Levi Strauss CFO Says Trade War Could Tarnish American Brands Around The World
Levi Strauss & Co. has had a good run over the past three quarters, continuing to outpace industry peers even in a strong denim fashion cycle. But the new 25 percent tariffs on U.S. jeans in the European Union and a trade war with China, could spell trouble for Levi’s and other iconic American brands, the apparel brand’s financial chief said. “Long term, it could have an impact at how people look at American products and American companies. And that is something that we do worry about.” Levi Strauss’ CFO, Harmit Singh, told CNBC. Products associated with American ideals — jeans, bourbon, motorbikes and boats — are just some of the 180 goods the EU is targeting with new import taxes in retaliation for the Trump administration’s tariffs on imported steel and aluminum. Many are beginning to fear that trade disputes between the U.S. and the rest of the world will begin to tarnish the reputation of the country, and the companies most closely associated with it. Read more at CNBC.
