German sportswear maker Puma is bracing itself for an escalation of the US-Chinese trade spat by preparing to relocate production from China to other Asian markets should President Donald Trump impose tariffs on shoes and apparel made in China.
“Our sourcing people have been working on alternatives [to Chinese-based production] for the last two months”, Chief Executive Bjørn Gulden said on Tuesday morning, adding that his company has not yet moved any production out of China.
Mr Gulden stressed that the entire sporting goods industry would be affected. “This tariff thing is a headache for all of us, as the US is the biggest market for our industry.”
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