By  on July 31, 2019

PARIS — “If the tariffs are coming, we cannot understand how that will not cause an increase on retail prices in the U.S.…2020 will be a tough year in terms of working to mitigate that pressure,” Puma chief executive officer Bjørn Gulden said during a conference call with journalists on Wednesday. The ongoing trade negotiations between the U.S. and China was the main topic, as talks between the two superpowers resume this week in Shanghai.

When asked if he thinks the letter sent by the American Apparel & Footwear Association to President Trump in June, objecting to his latest wave of proposed tariffs against Chinese-made goods, has helped, he replied: “Tariffs on our product for the U.S. when we have no U.S. production doesn’t really make any sense. The end result will decide. We felt when we talked to both retailers and brands, no one could capitalize in our industry with the kind of tariffs that are on the table, so in the end it will hurt the consumer. Let’s hope it’s not coming.”

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