The ongoing military coup in Myanmar is prompting some US investors to pull out of the country. Prominent amongst them are luggage maker Samsonite and privately owned apparel maker LL Bean along with retailer H&M and Adidas. Myanmar’s army has usurped power and declared a year-long emergency. The move was condemned by many Western leaders while the US government threatened to impose renewed sanctions.

Lucas Myers, Analyst, Woodrow Wilson International Center for Scholars, said the coup would further strain trade relations between US and Myanmar while William Reinsch, Trade Expert, Center for Strategic and International Studies think tank, feels the move could lead to US. companies pulling out of Myanmar, given new developments and the Biden administration’s vow to focus more on human rights.

Stephen Lamar, President, American Apparel & Footwear Association, said many of the trade group’s members did business in Myanmar and found the coup deeply concerning. He urged for the full and immediate restoration of democratic rights in the country.

In the first 11 months of 2020, the total trade in goods between Myanmar and the United States amounted to nearly $1.3 billion, according to U.S. Census Bureau data. Of this, apparel and footwear accounted for 41.4 per cent of total US goods imports, followed by luggage, which accounted for nearly 30 per cent, said Panjiva, the supply chain