New Balance quickly became the first major sportswear company to publicly back U.S. president-elect Donald Trump. In a statement issued to the Wall Street Journal's Sara Germano, the Boston-based company's VP of public affairs explained New Balance's position.

New Balance: "The Obama admin turned a deaf ear to us & frankly w/ Pres-Elect Trump we feel things are going to move in the right direction" — Sara Germano (@germanotes) November 9, 2016

This per NB VP public affairs. New Balance has publicly opposed TPP. https://t.co/tdKp6o8UyS — Sara Germano (@germanotes) November 9, 2016

Why does NB feel that things will be moving "in the right direction" under President Trump? The statement can no doubt be traced back to his opposition to the Trans-Pacific Partnership, a trade deal that New Balance has long been against because of the threats it poses to U.S. footwear production. The brand hasn't issued any broader statement supporting Trump.

New Balance makes or assembles over 4 million pairs of sneakers in the U.S. annually.

UPDATE 11/10: New Balance has issued a statement to Sole Collector clarifying its position on Trump. Read the statement in full here.