Uniqlo Threatens To Leave U.S. Because Of Donald Trump
Photo of Uniqlo courtesy of Instagram.
One of Donald Trump's campaign promises was that he was going to convince corporations to invest in Americans: that means buy American and hire American.
This is already causing some problems. Especially the buy American part.
Japanese billionaire Tadashi Yanai, the head of Fast Retailing Co., the company that owns popular clothing brand Uniqlo, is not trying to play by Trump's rules. Yanai was asked specifically about what he would do if he had to manufacture his clothes in the United States. His response was direct:
"If I was directly told to do so, I will withdraw from the United States...We would not be able to make really good products [in the U.S.] at costs that are beneficial to customers."
Yanai would go on to say that "it would become meaningless to do business in the U.S."
If this doomsday scenario actually happened it would be a nightmare. There are over 51 locations in the United States. And, according to CNN, they are planning on opening up 20 more stores this year.
Just in case things get dicey, stock up on $40 dollar cashmere sweaters now.