Key Points
Fitbit shares rose briefly Wednesday after the company announced it would shift its manufacturing operations outside of China to avoid tariffs. All of Fitbit's fitness trackers and smartwatches will not be subject to Section 301 tariffs as of 2020.briefly rose 2% after the company announced Wednesday it plans to shift its manufacturing operations outside of China to avoid tariffs. The stock was down slightly late Wednesday morning.
Beginning in 2020, all of Fitbit's fitness trackers and smartwatches will not be of Chinese origin, meaning they won't be subject to Section 301 tariffs, the company said. "In 2018, in response to the ongoing threat of tariffs, we began exploring potential alternatives to China," Ron Kisling, Fitbit's CFO, said in a statement. "As a result of these explorations, we have made changes to our supply chain and manufacturing operations and have additional changes underway."
What a useless article. Where will they be made? This is 101 shit guys...
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Trump continues to Make Vietnam Great Again!
But they will still use non american workers, so we're good.
Enjoy the price hikes you clowns.
Just understand, they did not say they were moving TO the US, just OUT of China. This doesn't help US workers.
Those “potential alternatives to China” will not be the U.S., so where is the benefit to Americans?
And when their payroll expenses go up, they will increase the price of their product, still shifting the costs to American consumers.
winning