Thursday, 20 Aug 2020 07:04 AM MYT
“Don't buy GOODYEAR TIRES — They announced a BAN ON MAGA HATS,” the Republican president wrote on Twitter, referring to his slogan “Make America Great Again” that often features on baseball caps worn by his supporters. Goodyear, which had nearly US$15 billion in revenue last year, said a widely circulated image that triggered the controversy was not created or distributed by the company's corporate group.
Shares in Goodyear fell as much as 6 per cent yesterday but later pared some of the losses to trade down 2 per cent at US$9.53, with volume at four times the 10-day moving average. “It's absolutely despicable that the president would call for a boycott of an American company, based in Akron, that employs thousands of US workers,” he wrote in a tweet.Trump's tweet followed a news report by WIBW, a CBS affiliate television station in Kansas, about a training session at Goodyear's headquarters that discussed political attire.