Tariffs could throw US sporting goods firms for loss as trade war escalates, companies say
- On Sunday, 15 per cent tariffs are set to hit a variety of sports equipment, including baseballs, footballs and lacrosse sticks
- New duties will hurt American firms but have ‘little to no impact’ on Chinese suppliers, Sports & Fitness Industry Association says
The escalating trade war between the United States and China could deliver a devastating uppercut to America’s US$52 billion sporting goods industry, manufacturers say.
Beginning on Sunday, the Trump administration is set to add a 15 per cent duty on billions of dollars of baseballs, footballs, lacrosse sticks and other sports equipment in amid its showdown with Beijing.
Despite delaying some tariffs to spare the American public ahead of the Christmas season, the newest tariffs are likely to be passed directly to consumers and job losses are “inevitable”, sporting goods makers said. The increased costs also could weigh on youth sports participation in the US, they said.
Bill Sells, senior vice-president of government affairs for the Sports & Fitness Industry Association (SFIA), an industry trade group, said the tariffs threaten well-paying high quality jobs in the US, including product designers, marketers and salespeople. Sells said that the tariffs “will have a more severe impact on our industry” after US President Donald Trump increased the amount of the planned levies last week.