News-News.Zip

News in English (USA) / 08.11.2024 / 23:00

Steve Madden Makes Major Changes to Production Strategy Amid Tariff Concerns

In response to the looming tariffs proposed by the Trump administration, footwear brand Steve Madden has announced a significant shift in its sourcing and production strategy. The company plans to cut its imports from China by as much as 45% to avoid the financial impact of the tariffs. CEO Steven Madden has stated that the company is actively moving production out of China, implementing a rapid transition in its manufacturing processes. This decision follows a broader trend among businesses seeking to mitigate risks associated with potential tariff increases. By targeting a substantial reduction in Chinese sourcing, Steve Madden aims to adapt to the changing trade environment.
CNN, CBS News, The New York Times, The Washington Post, Fox Business, The Wall Street Journal, Axios, Reuters.com, CNBC, ABC News