Nike, Adidas and other footwear giants urge Trump to remove tariffs immediately and end trade war with China
- 173 companies sign open letter to the US president, and post it on the Footwear Distribution and Retailers of America’s website
- Trade association says the tariffs on shoes made in China will be catastrophic on the ‘American economy as a whole’
Nike, Adidas and other footwear giants urged US President Donald Trump to reconsider his tariffs on shoes made in China, saying the policy would be “catastrophic for our consumers, our companies and the American economy as a whole”.
In all, 173 companies signed an open letter to the president, dated Monday and posted on the Footwear Distribution and Retailers of America’s website. It was also sent to Treasury Secretary Steve Mnuchin, Commerce Secretary Wilbur Ross and National Economic Council director Larry Kudlow.
“On behalf of our hundreds of millions of footwear consumers and hundreds of thousands of employees, we ask that you immediately stop this action to increase their tax burden,” the industry group said. “Your proposal to add tariffs on all imports from China is asking the American consumer to foot the bill. It is time to bring this trade war to an end.”
The ongoing trade tension between the US and China has escalated as Trump threatens to impose tariffs as high as 25 per cent on Chinese goods. Last week, the US Trade Representative’s office released a list of about US$300 billion worth of products that could see higher import duties, including all types of footwear, from trainers to sandals. Trump will discuss the tariffs with Chinese President Xi Jinping next month.
Trump has repeatedly stated that China would pay the tariffs – something his critics say is misleading or wrong. Earlier this month, Kudlow said that “both sides” will pay.
