{"id":123615,"date":"2024-11-08T22:09:58","date_gmt":"2024-11-08T15:09:58","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=123615"},"modified":"2024-11-08T22:09:58","modified_gmt":"2024-11-08T15:09:58","slug":"steve-madden-announces-plan-to-rapidly-move-production-out-of-china-following-trump-election-win","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=123615","title":{"rendered":"Steve Madden announces plan to &#8216;rapidly&#8217; move production out of China following Trump election win"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div><!----> <!----> <\/p>\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Shoe retailer Steve Madden said in a statement that it&#8217;s putting a &#8216;plan into motion&#8217; that will cut Chinese sourcing up to 45%.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>As President-elect Donald Trump\u2019s proposed tariffs loom over the U.S. economy, one popular shoe company is already planning <a href=\"https:\/\/www.foxbusiness.com\/economy\/trumps-tariffs-would-drive-up-consumer-prices-national-retail-federation\" target=\"_blank\" rel=\"noopener\">to move production<\/a> out of China.<\/p>\n<p>Steve Madden\u2019s CEO announced on a post-earnings call Thursday \u2013 less than 48 hours after Trump\u2019s victory \u2013 that the retailer has put a &#8220;plan into motion&#8221; that cuts Chinese sourcing up to 45%.<\/p>\n<p>&#8220;You should expect to see the percentage of goods that we source from China to begin to come down more rapidly going forward,&#8221; CEO Edward Rosenfeld said.<\/p>\n<p>The trendy shoe retailer also noted it would focus more of its operations at factory bases in Brazil, Mexico, Vietnam and Cambodia.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/trump-says-hell-hit-john-deere-200-tariffs-moves-production-mexico\" target=\"_blank\" rel=\"noopener\"><strong><u>TRUMP SAYS HE&#8217;LL HIT JOHN DEERE WITH 200% TARIFFS IF IT MOVES PRODUCTION TO MEXICO<\/u><\/strong><\/a><\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><picture><source media=\"(max-width: 767px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/11\/343\/192\/steve-madden-china-getty.jpg?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/11\/686\/384\/steve-madden-china-getty.jpg?ve=1&amp;tl=1 2x\"><source media=\"(min-width: 768px) and (max-width: 1023px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/11\/672\/378\/steve-madden-china-getty.jpg?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/11\/1344\/756\/steve-madden-china-getty.jpg?ve=1&amp;tl=1 2x\"><source media=\"(min-width: 1024px) and (max-width: 1279px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/11\/931\/523\/steve-madden-china-getty.jpg?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/11\/1862\/1046\/steve-madden-china-getty.jpg?ve=1&amp;tl=1 2x\"><source media=\"(min-width: 1280px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/11\/720\/405\/steve-madden-china-getty.jpg?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/11\/1440\/810\/steve-madden-china-getty.jpg?ve=1&amp;tl=1 2x\"><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/11\/931\/523\/steve-madden-china-getty.jpg?ve=1&amp;tl=1\" alt=\"Steve Madden moves production out of China\"\/><\/source><\/source><\/source><\/source><\/picture><\/div>\n<div class=\"caption\">\n<p><span>Less than 48 hours after Trump&#8217;s election victory, Steve Madden executives talked about moving its production out of China on a post-earnings call.<\/span><span> (Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>&#8220;Just under half of our current business would be potentially subject to tariffs on Chinese imports (if Trump decides to impose tariffs when he takes office in January),&#8221; another\u00a0company executive said, <a href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/steven-madden-cut-sourcing-china-tariff-worries-under-trump-2024-11-07\/\" target=\"_blank\" rel=\"nofollow noopener\">according to Reuters<\/a>.<\/p>\n<p>&#8220;Our goal over the next year is to reduce the percentage of goods we source from China by approximately 40% to 45%,&#8221; the executive added.<\/p>\n<p>Since February, Trump has honed in on using tariffs as a strategic negotiation policy. The former president has floated a tariff of 20% on goods from other countries and 60% on imports from China. During a sit-down interview with Bartiromo, Trump confirmed <a href=\"https:\/\/www.foxbusiness.com\/media\/larry-kudlow-tariffs-secret-sauce-trumps-working-class-coalition\" target=\"_blank\" rel=\"noopener\">that his tariff plan<\/a> would be used as a leveraging tool, and suggested imposing a 200% tax on vehicles from Mexico.\u00a0<\/p>\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Former President Donald Trump sat down for an exclusive interview with Maria Bartiromo on &#8216;Sunday Morning Futures.&#8217;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>&#8220;I think Trump will pursue this more as a bargaining chip than as a cudgel to necessarily broadly punish different countries,&#8221; The Lonski Group President and founder John Lonski said in reaction on &#8220;<a href=\"https:\/\/www.foxbusiness.com\/shows\/mornings-with-maria\" target=\"_blank\" rel=\"noopener\">Mornings with Maria<\/a>&#8221; Friday.<\/p>\n<p>&#8220;He&#8217;s going to go to China and say, &#8216;Listen, unless you make some changes in your trade practices, unless you become less belligerent, you are going to be facing higher tariffs.&#8217; And why not use tariffs as a bargaining chip? I see no reason not to do so,&#8221; he continued.<\/p>\n<p>Lonski expanded on the macroeconomic impact: &#8220;As far as the United States economy is concerned, it&#8217;s absolutely madness if we don&#8217;t take steps to protect industries that are vital to national security. This isn&#8217;t only a defense, but it&#8217;s also [for] some of the pharmaceutical industries, the production of drugs. We can&#8217;t become overly reliant on foreign supplies.&#8221;<\/p>\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Lexington Institute national security analyst Rebecca Grant explains why tariffs are &#8216;here to stay&#8217; on &#8216;Making Money.&#8217;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.foxbusiness.com\/apps-products\" target=\"_blank\" rel=\"noopener\"><strong><u>GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/a><\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.foxbusiness.com\/media\/steve-madden-announces-plan-rapidly-move-production-out-china-following-trump-election-win\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shoe retailer Steve Madden said in a statement that it&#8217;s putting a &#8216;plan into motion&#8217; that will cut Chinese sourcing up to 45%. As President-elect Donald Trump\u2019s proposed tariffs loom &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=123615\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-123615","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/123615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=123615"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/123615\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=123615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=123615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=123615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}