America's Footwear Industry Urges Trump Administration to Halt US-China Trade War

Nike, adidas, and other industry titans have signed an open letter to the President.

By
Footwear
18,347 Hypes 16 Comments

As President Trump reigns in a new phase of his proposed trade war with China, various footwear giants including Nike and adidas have asked the US President to reconsider his tariffs on shoes made within China, noting that the current policy would be “catastrophic for our consumers” and the “American economy as a whole.”

The Footwear Distribution and Retailers of America posted an open letter signed by 173 companies to the trade organization’s website late Monday, stating that the administration’s “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 new policy, which would impose tariffs of up to 25 percent, would inevitably affect millions of consumers and tens of thousands of employees, greatly increasing the American taxpayer’s burden. Currently, the footwear industry in the United States faces a “US$3 billion duty bill every year,” and any slight increase would drastically affect the consumer economy.

The footwear industry is one of the most heavily affected by tariffs due to much of the production taking place in China – roughly 26 percent of Nike’s footwear, 65 percent of Skechers USA footwear, amongst others, produce out of China. Many companies were positioning towards expanding production to Vietnam in anticipation of the Trans-Pacific Partnership, due to duty-free exporting benefits, but Trump stepped away from the deal after taking office.

What do you think of the situation? Let us know below.

For more footwear news, Nike is updating its maternity leave policy for female athletes.

Read Full Article

What to Read Next

Top Twitch Streamers Get Paid Upward of $50,000 USD per Hour to Stream Gameplay
Gaming

Top Twitch Streamers Get Paid Upward of $50,000 USD per Hour to Stream Gameplay

It’s a $43.4 billion USD industry after all.

A Look at the Full Palace x Jean-Charles de Castelbajac Collaboration
Fashion

A Look at the Full Palace x Jean-Charles de Castelbajac Collaboration

Releasing this Friday.

Rick Ross Drops "Port of Miami II Freestyle" on SoundCloud
Music

Rick Ross Drops "Port of Miami II Freestyle" on SoundCloud

Are we close to the full-length ‘Port of Miami II’ album?


Uniqlo UT Unveils Female-Focused "RISE AGAIN BY VERDY" SS19 Capsule
Fashion

Uniqlo UT Unveils Female-Focused "RISE AGAIN BY VERDY" SS19 Capsule

The fast-rising creative joins NIGO and Emma for the collection.

'John Wick 4' Receives an Official 2021 Release Date
Entertainment

'John Wick 4' Receives an Official 2021 Release Date

“You have served. You will be of service.”

Major Lazer's Walshy Fire Announces Debut Solo Album 'ABENG' & Shares Lead Single
Music

Major Lazer's Walshy Fire Announces Debut Solo Album 'ABENG' & Shares Lead Single

The single features dancehall legend Alkaline and Nigerian singer Runtown.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.