In an interview with CNBC on Wednesday Jim Cramer,,,,, Colombian sportswear CEO Tim Boyle said his company needs to be more clear about global tariff decisions in order to plan what is coming.
“It’s a decay effect,” he said. “But, more importantly, we need guarantees about what is going to happen, future.”
President Donald Trump has made quick efforts to commit Expansion Tariffs from some of the largest trading partners in the United States have increased China’s commodity tax by 10%. He also raised import taxes on Mexico and Canada by 25%, but agreed to temporarily pause A month hike.
Boyle said the tariffs are designed to increase the price of imported products. He said the sportswear company is one of the largest payers on duty in the United States, whose goods have been highly tariffed and some products bear 37.5% of their duties. According to Boyle, Colombia does not import too much from China, but he says China is an important part of the business because it is where the company produces products for distribution locally and other countries. He said it was necessary to be “very cautious” because it was unclear where the tariffs would appear and how much it would be, even if he said his company was good at challenging the challenge.
Although Colombia has strength in China and other countries, Boyle said the company is focused on strengthening its operations in North America. Columbia reported a mixed quarter Tuesday night and issued soft guidance, and stocks fell 5.70% at Wednesday’s meeting. Boyle stressed that the company will spend “incredible” time and effort to restore its North American business to growth, just as it has done to other regions in the past.
“If we think historically, when we do not perform well in a certain region, we call China, and Europe from a historical perspective, Europe is not doing well,” Boyle said. “We are already in Working hard in these areas, we have seen growth, and frankly, we need to impose the same rigor on our North American business.”
