- PVH CEO Manny Chirico is a little more optimistic these days about the ongoing tariff rhetoric between the United States and China.
- "It feels like cooler heads will prevail," he says.
The CEO of retailer PVH is a little more optimistic these days about the ongoing tariff rhetoric between the United States and China.
In an interview with CNBC's "Mad Money" host Jim Cramer on Wednesday, Manny Chirico said, "It feels like cooler heads will prevail."
On Tuesday, the Trump administration said it will continue pursuing trade action on China. By June 15, the U.S. will release a list of about $50 billion worth of Chinese goods that will be subject to a 25 percent tariff, the White House said in a statement.
The announcement comes days after Washington and Beijing announced a tentative solution to their dispute, which eased concerns about a possible trade war.
The escalating trade war between the two nations saw President Donald Trump threaten to impose tariffs on up to $150 billion on Chinese goods, while China warned of equal retaliation.
Chirico said it feels like the tariff threats are "negotiating positions that will work their way through."
Apparel retailers are among those who have complained that U.S. tariffs on Chinese goods would result in higher consumer costs.
Chirico said it is clear that China needs to make changes to open up its market and the issue surrounding the theft of intellectual property needs to be addressed.
However, "I don't think you really want to disrupt everyone's supply chains coming out of Asia as we go forward."
That said, he added, "I feel much better today than I did two or three months ago."
PVH, which is the parent company of Calvin Klein and Tommy Hilfiger, reported earnings on Wednesday that beat expectations.