Find in the news:
BY COUNTRY

Uniqlo Threatens To Close US Stores Over Tax Policy



Uniqlo chief stated: We'll close stores if US imposes border adjustment tax.
The dawning of a new presidential administration means changes are up ahead, and that’s been readily apparent ever since the inauguration of President Donald Trump. The 45th President of the United States has enacted some policies that will have far reaching consequences - and he’s not done yet. A number of proposals are still on the table or in the talking stages, and at least one of them could have a significant impact on the retail sector. 

As NBC News shares, Uniqlo has taken umbrage with one proposed policy. In fact, they have outright threatened to shutter its US locations if the system goes through. The policy in question is known as the border adjustment tax, which would substantially increase taxes on imports but leave exports unaffected. 

It’s aimed at encouraging companies to keep their manufacturing operations within US borders, but it will substantially impact those with established operations overseas. One of these enterprises is Uniqlo, and they could resort to drastic measures in response.     

"If I was directly told to do so, I would withdraw from the United States," said Tadashi Yanai, chairman, and president of Uniqlo’s parent company Fast Retailing Co.

Uniqlo currently has about 50 stores in the US, but the company has plans in the works to expand at a rate of 20 to 30 stores per year. The border adjustment tax would grind those plans to a halt.    

"Anyone will think that it is an open-and-shut and impossible situation. If [manufacturing products in the United States] is not a right decision for consumers, it is meaningless to do business in the United States," Yanai continued. 

Uniqlo

We’ll have to wait and see how the policy plays out, but we can be sure that Uniqlo is not the only retailer drawing up contingency plans in case it goes through. While the tax may save jobs on one end by retaining manufacturing jobs, it could result in the loss of some employment in the retail sector. That’s an apparent balancing act that the Trump administration will need to keep in mind before putting pen to paper on this one.   

"The U.S. represents one of our top priority markets as a global company. Uniqlo will stay true to our core business values of offering the highest quality apparel at accessible prices, and these values are central to our customer-centric philosophy," a spokesperson for Uniqlo said.

Related shopping malls and stores:

More about shopping malls in the USA



Jun 1, 2022, United Kingdom:
The concept store is part of the Livat Hammersmith shopping and entertainment center in London.
May 19, 2022, South Korea:
Hyundai Seoul got a central atrium with a 12-meter waterfall and natural lighting.
May 12, 2022, Malaysia:
The complex is home to more than 200 tenants selling authentic local goods.
Apr 29, 2022, Europe, Europe:
The store sells streetwear created in collaboration with designers such as Soho Grit, Alma de Ace, BAPE, Herschel, and Staple.
Apr 28, 2022, USA:
Nike and RTFKT have announced a new collection of Nike Dunk Genesis Cryptokicks sneakers.
Apr 27, 2022, USA:
Meta Store has the intention of demonstrating the possibilities of virtual reality devices, as well as dispelling the mystery around the concept of the math universe.
Friend
and Follow
AEON MALL Okinawa Rycom GLA:839 585 SF
ADDRESS: 901-2300 Tochi-kukaku seirichinai Awase, Kitanakagusuku Village, Nakagami District, Okinawa
Japan . Ginowan
AEON MALL Okinawa Rycom
Optimum Outlet GLA:421 127 SF
ADDRESS: ve Eglence Merkezi | Istiklal Sokak No.2/B Yenisahra/Atasehir
Turkey . Istanbul
Optimum Outlet
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us