Jobs in the Balance: New Balance, Maine Officials Keep Close Eye on Pacific Rim Trade Agreement
A discussion of how manufacturing jobs at New Balance’s three Maine factories could be affected by the proposed Trans-Pacific Partnership, said to be in final stages of negotiations in Congress. New Balance argues it would have a competitive disadvantage if footwear tariffs are eliminated as workers in other footwear manufacturing countries, such as Vietnam, earn considerably less per month than workers in the U.S. Other U.S. based footwear companies, such as Nike, have already moved their manufacturing facilities to Vietnam, and is supporting the elimination of the footwear traffic. At the 2015 State of the Union address, President Obama urged Congress to quickly take an up-or-down vote on TPP, but some in Congress, including U.S. Senators Angus King and U.S. Representative Chellie Pingree argue there is too much secrecy in the agreement to vote quickly on it. All of Maine’s congressmen agree they do not want the trade agreement to adversely affect footwear manufacturing jobs in Maine. [graphs]
Commercial treaties, New Balance Athletic Shoe, Inc., Footwear industry
McCarthy, James, "Jobs in the Balance: New Balance, Maine Officials Keep Close Eye on Pacific Rim Trade Agreement" (2015). Maine News Index – MaineBiz. 6310.