Toolots Trade and Commerce PAC
Toolots Trade and Commerce PAC, a political action committee organized by Toolots, Inc., held its inaugural fundraising event on March 12, 2018 at the company’s headquarters in Cerritos.
The company describes itself as an online marketplace and international distribution channel for factory-direct industrial tools, machinery and manufacturing technology between US and China. It is a fast-growing startup led by a predominantly Chinese-American board familiar with the cross-border space.
“Together we can be a powerful voice to encourage political leaders to make the right decisions for this great country and its businesses and employees,” the PAC’s president and Toolots director Tim Zhu said at the event.
According to Zhu, the PAC is non-partisan and is expected to help the company and related industries hedge against potential policy risks that might arise in the import-export space, industrial manufacturing, or commerce more broadly.
“Helping to push for better, more industry-friendly congressional policy is the main objective of the political action committee,” said Jason Fu. PACs are created for the purpose of raising and contributing financial support for candidates’ campaigns and thereby play an important role in American politics, both in terms of election results and legislative outcomes.
“Toolots acts as a bridge between US and China for the countries’ respective industrial equipment markets. We believe that our cross-border platform not only benefits manufacturing in both the US and China, but also will have an outsized positive impact on economic growth for both trading partners,” said Jessie Zhan, secretary of the PAC and Toolots board director.
“As Toolots continues to grow its operations, the company will take on more social and industrial responsibilities” said Dr. Peter Wei, a director of Toolots. “It’s good to be prepared and forward-looking both when it comes to business as well as navigating the ever-volatile political environment.”