President Trump Kills TPP, Plans To Renegotiate NAFTA
Moving immediately to fulfill a campaign promise, the new President killed the Trans-Pacific Partnership by executive order and announced his intention to renegotiate NAFTA. While the TPP would have been a huge win for many sporting goods companies, particularly Nike and Adidas, its demise had long been anticipated. A number of countries, such as Vietnam and Australia, plan to ratify the treaty even without U.S. participation. The plan to renegotiate NAFTA had also been long-expected, but the obstacles to making that a reality remain significant and the impact on the sporting goods industry would be minimal.
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