Report: Stanley Black & Decker makes major donation to Trump’s inauguration
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Stanley Black & Decker's New Britain headquarters.
Stanley Black & Decker said it is donating $1 million to help fund Donald Trump’s second inauguration, according to the Wall Street Journal. It’s a major increase from the $25,000 the New Britain toolmaker gave to Trump’s first inauguration in 2017.
The donation comes as Stanley contemplates raising prices and moving some of its manufacturing operations to different parts of the world to avoid the worst effects of the incoming president’s promised trade tariffs.
According to a filing with the Securities and Exchange Commission in November, a 60% tariff on Chinese goods, mentioned by Trump on the campaign trail, could cost Stanley up to $200 million.
The donation also marks a change in tone from the company’s response after the Jan. 6, 2020 invasion of the Capitol by Trump’s supporters.
The Journal reports that Stanley has removed a news release from its site that included a message from then-CEO Jim Loree condemning the violence on Jan 6 and vowing to “use our voice to advocate for our democracy and a peaceful transition of power.”
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