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 San Mateo, California-based company 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 2 percent to $4.88 in morning trading.
U.S. regulators are proposing aggressive measures to restore competition to the online search market after a federal judge ruled Google maintained an illegal monopoly for the last decade.
The sweeping set of recommendations filed late Wednesday by the U.S. Department of Justice could radically alter Google's business, including possibly spinning off the Chrome web browser and syndicating its search data to competitors. Even if the courts adopt the blueprint, Google isn't likely to make any significant changes until 2026 at the earliest, because of the legal system's slow-moving wheels.
Here's what it all means:
What is the Justice Department's goal?
Federal prosecutors are cracking down on Google in a case originally filed during near the end of then-President Donald Trump's first term. Officials say the main goal of these proposals is to get Google to stop leveraging its dominant search engine to illegally squelch competition and stifle innovation.
"The playing field is not level because of Google's conduct, and Google's quality reflects the ill-gotten gains of an advantage illegally acquired," the Justice Department asserted in its recommendations. "The remedy must close this gap and deprive Google of these advantages."
Not surprisingly, Google sees things much differently. The Justice Department's "wildly overbroad proposal goes miles beyond the Court's decision," Kent Walker, Google's chief legal officer, asserted in a blog post. "It would break a range of Google products — even beyond search — that people love and find helpful in their everyday lives."
It's still possible that the Justice Department could ease off on its attempts to break up Google, especially if President-elect Donald Trump... Read More
