GoPro on Monday announced that it is moving production of its U.S.-bound cameras out of China, citing the ongoing tariff feud between Washington and Beijing.
The company will continue to manufacture cameras for Chinese and international markets in China, but it will move the production of units to be sold in the U.S. to another location by next summer, it said.
"We're proactively addressing tariff concerns by moving most of our US-bound camera production out of China," GoPro's executive vice president and chief financial officer, Brian McGee, said in a statement. "We believe this diversified approach to production can benefit our business regardless of tariff implications."
GoPro has not announced the future location of its U.S.-bound production operations.
"It's important to note that we own our own production equipment while our manufacturing partner provides the facilities, so we expect to make this move at a relatively low cost," McGee added.
China and the U.S. in recent months have imposed tariffs on hundreds of billions of dollars of each other's imports in a trade war that has roiled global commerce.
President TrumpDonald TrumpPredictions of disaster for Democrats aren't guarantees of midterm failure A review of President Biden's first year on border policy Hannity after Jan. 6 texted McEnany 'no more stolen election talk' in five-point plan for Trump MORE earlier this month agreed to a 90-day truce after meeting with Chinese President Xi Jinping at the Group of 20 summit in Argentina. Business and financial leaders have struggled to anticipate what will happen next amid contradictory statements from both countries.
U.S. Trade Representative Robert Lighthizer on Sunday said that he considers March 1 a "hard deadline" for the U.S. and China to reach a trade deal, adding that Trump will raise tariffs at that point if there isn't an agreement.