GoPro Moving Production Out Of China Over Tariff Concerns
SAN MATEO (CBS SF / AP) — Peninsula-based action-camera maker GoPro says it will move production of U.S.-bound cameras out of China by the summer over tariff-related concerns.
Companies have been voicing concerns over a looming trade war between China and the U.S. as both countries have been threatening tariffs against one another.
GoPro did not say Monday where production was moving or how much the move would cost.
The company, based in San Mateo, did say that it owns its own manufacturing equipment, so it will only be changing the physical location of where production will take place. Production of international-bound cameras will remain in China.
GoPro shares slipped nearly two percent to $4.88 in morning trading before stemming losses and finishing off just over one percent.
© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.
