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Statement from Tim Boyle, President & CEO, Columbia Sportswear Company, on the Trump Administration’s Proposed Tariff Increase on Imported Goods from China

August 1, 2019

PORTLAND, Ore.--(BUSINESS WIRE)--Aug 1, 2019--

From Tim Boyle, President and Chief Executive Officer of Columbia Sportswear Company:

“President Trump announced today via Twitter that he plans to raise tariffs on imported goods from China beginning September 1, 2019. If that happens, it will be a disaster for the American economy, employers and consumers. If tariffs are imposed, Columbia Sportswear Company – along with many other manufacturers in our industry – will be forced to raise prices on our products. This is a massive tax on employers and consumers, not on China.

“Footwear and apparel are some of the most highly taxed products in the United States. Herbert Hoover-era tariffs as high as 37.5% are already in place and are being paid by U.S. consumers. With President Trump’s proposed 10% tax on goods manufactured in China, the American people will see almost half the cost of their shoes and clothing go to taxes.

“Furthermore, raising tariffs creates uncertainty, which makes it difficult for American business to make investments that can continue to grow the U.S. economy. We’ve been fortunate to have a strong economy for the past decade. Let’s not tank the economy with the misguided conception that trade wars are fun.”

About Columbia Sportswear Company:

Columbia Sportswear Company has assembled a portfolio of brands for active lives, making it a leader in the global active lifestyle apparel, footwear, accessories, and equipment industry. Founded in 1938 in Portland, Oregon, the company’s brands are today sold in approximately 90 countries. In addition to the Columbia® brand, Columbia Sportswear Company also owns the Mountain Hardwear®, SOREL® and prAna® brands. To learn more, please visit the company’s websites at www.columbia.com, www.mountainhardwear.com, www.sorel.com and www.prana.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190801006119/en/

CONTACT: Mary Ellen Glynn

Corporate Communications Director

503-985-1513

mglynn@columbia.com

KEYWORD: DISTRICT OF COLUMBIA OREGON UNITED STATES NORTH AMERICA ASIA PACIFIC CHINA

INDUSTRY KEYWORD: OTHER GOVERNMENT TEXTILES PUBLIC POLICY/GOVERNMENT MANUFACTURING FASHION WHITE HOUSE/FEDERAL GOVERNMENT RETAIL

SOURCE: Columbia Sportswear Company

Copyright Business Wire 2019.

PUB: 08/01/2019 07:43 PM/DISC: 08/01/2019 07:43 PM

http://www.businesswire.com/news/home/20190801006119/en

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