Nike, Adidas and other footwear brands warn Trump about catastrophic impact of tariffs with China
Nike, Adidas, Under Armour, Foot Locker and other sneaker brands and retailers told President Donald Trump on Monday that proposed tariffs on imported shoes from China would be “catastrophic” for American consumers.
CNN reports that a coalition of more than 170 footwear companies said in a letter to Trump that “Any action taken to increase duties on Chinese footwear will have an immediate and long-lasting effect on American individuals and families.”
“It will also threaten the very economic viability of many companies in our industry.”
The letter was posted on the website for the Footwear Distributors and Retailers of America, an industry trade group. It was also addressed to United States Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and Larry Kudlow, the director of the National Economic Council.