Trump is threatening American jobs at Goodyear

·Senior Columnist

August 19, 2020 at 2:08 PM·4 min read

President Trump wants to bring some jobs back to America—but also kill some U.S. jobs, apparently.

Trump is now encouraging his 80 million Twitter followers to boycott Goodyear (GT) and buy tires from somebody else. Trump found a news story featuring one slide from a Goodyear presentation to employees in Topeka, Kan., on what is acceptable workplace attire. The slide says Black Lives Matter and LGBT messages are acceptable. Under unacceptable: Blue Lives Matter, All Lives Matter, MAGA gear, and other politically affiliated material.

You can see the corporate sin, right? Goodyear doesn’t want its workers wearing Trump’s MAGA brand hats and shirts around the workplace. So Goodyear has earned Trump’s wrath. “Don’t buy GOODYEAR TIRES,” Trump tweeted on Aug. 19. “Get better tires for far less!”

Rising Chinese tire imports

Goodyear employs at least 7,000 unionized workers in 14 U.S. plants, according to its latest annual report. The company’s headquarters is in Akron, Ohio—a state Trump has to win in November to have a chance of beating Joe Biden. Goodyear has facilities in the crucial swing states of Florida and North Carolina, along with Texas, which some analysts think Democrats could win. Does Trump hope his call for a boycott wrecks the company’s sales and throws those workers out of a job?

It could happen. The company’s stock price fell nearly 4% in the aftermath of Trump’s attack, indicating investors think Trump could materially harm the company. The question now is whether Trump will mount a sustained assault against Goodyear, as he has against other corporate targets, such as Amazon, the US Postal Service, Carrier, Boeing and General Motors. Or, will he let it drop? If Trump leaves it at one tweet and backs off, Goodyear will probably recover.

In this Monday, Dec. 30, 2019, file photograph, the company sign hangs over vehicles waiting for repair outside a Goodyear Tire and Service store in downtown Denver. (AP Photo/David Zalubowski)

There’s plenty of competition selling those cheaper tires Trump favors, however—including many Chinese importers. Chinese tire imports to the United States have been rising by double-digits, with China the top importer, followed by Thailand, Canada and South Korea. Trump of course has railed against cheap Chinese products that used to be made in America, and slapped tariffs on billions of dollars’ worth of Chinese imports. But that was before Goodyear banned MAGA hats.

Goodyear was obviously trying to address the intense and sometimes hostile partisanship that exists everywhere in America these days. A more savvy approach would have been to ban attire with any sort of political messaging, without singling out Trump’s MAGA brand. In response to Trump’s attack, Goodyear says there were some “misconceptions” about the MAGA ban. But its response reads like corporate gobbledygook and leaves the company open to more bashing from Trump. (Goodyear said it asks associates “to refrain from workplace expressions in support of political campaigning for any candidate or political party, as well as similar forms of advocacy that fall outside the scope of racial justice and equity issues.”)

TULSA, USA - JUNE 20: U.S. President Donald Trump meet his supporters at his ''Make America Great Again'' rally in Tulsa, Oklahoma, United States on June 20, 2020. (Photo by Kyle Mazza/Anadolu Agency via Getty Images)

The Goodyear fracas is the mirror image of the dustup over Goya Foods in July. Goya’s CEO, Robert Unanue, visited the White House on July 9 and throatily praised Trump, prompting some Trump critics to boycott the company. Trump promoted Goya products from inside the White House and encouraged his supporters to buy out the stores, making Goya products a weird litmus test of one’s conservative or progressive bona fides.

Now, tires. Goodyear is the leading tire brand in the United States, and it also owns Dunlop, Kelly and other brands. So Trump haters could buy more of those tires while Trump lovers buy fewer. The good news for Goodyear may be that most people don’t buy tires every month, and Trump may have moved on to some other villain—or be gone from the White House—by the time most Americans have to make their next tire purchase. But don’t expect to see Trump wearing a Goodyear hat.

Rick Newman is the author of four books, including “Rebounders: How Winners Pivot from Setback to Success.” Follow him on Twitter: @rickjnewman. Confidential tip line: rickjnewman@yahoo.com. Encrypted communication available. Click here to get Rick’s stories by email.

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.

Associated Press
Azerbaijan observes day of mourning for air crash victims as speculation mount about its cause
Azerbaijan on Thursday observed a nationwide day of mourning for the victims of the air crash that killed 38 people and left all 29 survivors injured as speculation mounted about a possible cause of the crash that remained unknown. Azerbaijan Airlines' Embraer 190 was en route from Azerbaijan's capital of Baku to the Russian city of Grozny in the North Caucasus on Wednesday when it was diverted for reasons yet unclear and crashed while making an attempt to land in Aktau in Kazakhstan after flying east across the Caspian Sea. On Thursday, national flags were lowered across Azerbaijan, traffic across the country stopped at noon, and signals were sounded from ships and trains as the country observed a nationwide moment of silence.
NBC News
Mapping Trump's connections to tech's right-wing brotherhood
President-elect Donald Trump has surrounded himself with a tight-knit group of wealthy tech barons who will help define his second term in the White House.
NBC News
20 years after a devastating tsunami, a survivor celebrates what the disaster has given him
The Dec. 26, 2004, tsunami began with a 9.3-magnitude earthquake. A series of waves devastated coastal communities in Indonesia, Sri Lanka, India, Thailand.
Yahoo Finance
Crypto got everything it wanted in 2024
Crypto was once a fringe sideshow for the investing public, a concern for DC policymakers and a subject of ridicule for top Wall Street figures. That changed in 2024.
AFP
S. Korea's opposition moves to impeach acting president
South Korea's opposition said Thursday it filed an impeachment motion against acting president Han Duck-soo, in an escalating row over the composition of the Constitutional Court which would decide whether to remove his predecessor from office.If the opposition passes the impeachment motion against Han in Friday's vote, it would mark the first time democratic South Korea has impeached an acting president.
AFP
Palestinian TV says Israeli strike kills 5 journalists in Gaza
A Palestinian TV channel affiliated with a militant group said five of its journalists were killed Thursday in an Israeli strike on their vehicle in Gaza, with Israel's military saying it had targeted a "terrorist cell".The Israeli military said in its own statement that it had conducted "a precise strike on a vehicle with an Islamic Jihad terrorist cell inside in the area of Nuseirat".
CNN
At least 14 security personnel killed in ‘ambush’ by former Assad forces, new Syrian authorities say
At least 14 law enforcement personnel were killed in western Syria overnight in an “ambush” by the former forces of deposed leader Bashar al-Assad, the new interior ministry said on Thursday.
Associated Press
Pope brings Holy Year and a message of hope to Rome's main prison
Pope Francis inaugurated his Holy Year at Rome’s main prison on Thursday, bringing a message of hope to inmates and involving them in the Catholic Church’s once every quarter-century celebration that is expected to bring about 32 million pilgrims to Rome. Francis stood up from his wheelchair, knocked on the door to the chapel at Rebibbia prison and walked across the threshold, reenacting the gesture he performed at the Holy Door of St. Peter’s Basilica two nights earlier on Christmas Eve. The opening of the Holy Door at the basilica officially kicked of the Jubilee year, a church tradition dating to 1300 that nowadays occurs every 25 years and involves the faithful coming to Rome on pilgrimages.
AFP
Asia stocks up as 'Santa Rally' persists
Asian stocks rose in thin Boxing Day trade on Thursday, extending a "Santa Rally" with key markets Hong Kong and Sydney still shut for the holidays.Stock markets have traditionally fared well in the last five trading days of the year and the first two in the new year, a trend known as the "Santa Claus rally".
Associated Press
Chinese automaker BYD slams reports of poor conditions at a factory site in Brazil
A spokesperson for Chinese automaker BYD has objected to reports about poor conditions at a construction site in Brazil where it is building a factory, saying the allegations were aimed at “smearing” China and Chinese brands. Earlier in the week, a task force led by Brazilian prosecutors said it had rescued 163 Chinese nationals it said were working in “slavery-like” conditions at the site. A BYD spokesperson, Li Yunfei, vehemently objected in a statement posted Thursday on his Weibo social media site.
AFP
Rural communities urged to flee east Australia bushfire
Australian authorities urged people in dozens of rural communities to leave home "immediately" Thursday to escape an out-of-control bushfire tearing through a national park.State emergency services warned residents to leave home immediately in more than two dozen mostly small rural communities, with populations ranging from as few as six to as many as several hundred.
AFP
Sri Lanka train memorial honours tsunami tragedy
Just inland from the crashing waves on Sri Lanka's palm-fringed shores, the train slowly came to a stop on Thursday -- marking the moment a deadly tsunami hit 20 years ago.Sri Lanka's Ocean Queen Express became a symbol of the biggest natural disaster to hit the South Asian nation in living memory, when the train was struck by the giant waves of December 26, 2004.
Reuters
China urges Philippines to return to 'peaceful development'
China's foreign ministry on Thursday urged the Philippines to return to "peaceful development", saying Manila's decision to deploy a U.S. medium-range missile system in military exercises would only bring the risks of an arms race in the region. On Tuesday, Philippine Defence Minister Gilberto Teodoro said the Typhon's deployment for joint exercises was "legitimate, legal and beyond reproach". Army chief Roy Galido said on Monday that the Philippines was also planning to acquire its own mid-range missile system.
AFP
Tears, prayers as Asia mourns tsunami dead 20 years on
Tearful mourners prayed on Thursday as ceremonies were held across Asia to remember the 220,000 people who were killed two decades ago when a tsunami hit coastlines around the Indian Ocean in one of the world's worst natural disasters.In Indonesia's Aceh Province, where more than 100,000 people were killed, a siren rang out at the Baiturrahman Grand Mosque to kick off a series of memorials around the region, including in Sri Lanka, India and Thailand, which the tsunami hit hours later.
Associated Press
South Korean opposition submits motion to impeach the country's acting president as strife deepens
South Korea’s main opposition party submitted a motion on Thursday to impeach the country’s acting leader over his reluctance to fill three Constitutional Court vacancies ahead of the court’s review of rebellion charges against impeached President Yoon Suk Yeol stemming from his short-lived martial law decree on Dec. 3. The court appointments have stalled amid an intensifying dispute between the liberal opposition and Yoon’s conservative party, and the potential impeachment of Prime Minister Han Duck-soo may deepen the political paralysis that has halted high-level diplomacy and rattled financial markets.
Reuters
Factbox-Profiles of South Korea's Constitutional Court justices
The justices on the Constitutional Court, who must decide within 180 days whether to remove Yoon from office, have not always voted in the past based on perceived political leanings. The court should have nine justices, but the appointment of three new members has been held up by political infighting. Moon, 59, is currently acting chief justice of the Constitutional Court.
CNN
Azerbaijan Airlines plane crashes in Kazakhstan, leaving 38 dead, 29 survivors, officials say
An Azerbaijani airliner carrying 67 people crashed near the city of Aktau in Kazakhstan on Wednesday, killing at least 38 who were on board, according to a Kazakh official.
Associated Press
Israeli strike kills 5 Palestinian journalists in Gaza, officials say
DEIR AL-BALAH, Gaza Strip (AP) — An Israeli strike killed five Palestinian journalists outside a hospital in the Gaza Strip overnight, the Health Ministry said early Thursday. The Israeli military said it had targeted a group of militants. The journalists were working for the local Quds News Network, which also reported the strike.
CNN
Accusations of genocide. Charges of corruption. Improbably, Netanyahu had a good year
The past year brought deaths, regional conflict, indictments and more. But Prime Minister Benjamin Netanyahu ends it having transformed his standing in Israel.
AFP
'We couldn't find their bodies': Indonesian tsunami survivors mourn the dead
Under the shade of trees at a mass grave in Indonesia's Aceh province, survivors and mourners recited Islamic prayers, commemorating the deaths of tens of thousands killed when a tsunami decimated the area two decades ago.It is one of several prayer sites across western Indonesia -- including a grand mosque and other mass graves -- holding ceremonies that drew thousands of mourners who remember the December 26, 2004, tsunami.

Rising Chinese tire imports

Latest Stories