Nike and adidas against Trump
173 activewear brands have come out against the President's proposed tariffs on goods imported from China
Fashion
May 22nd, 2019
May 22nd, 2019
The proposed additional tariff of 25 percent on footwear would be catastrophic for our consumers, our companies, and the American economy as a whole.
This is the opening sentence of the letter addressed to President Trump co-signed by 173 giants of the footwear and activewear industry, including Nike, adidas, PUMA, Under Armour, Reebok, Foot Locker and many others.
The initiative establishes as the strongest and most immediate reaction to Trump's recently proposed additional 25% tariffs on goods imported from China, in particular on footwear of every type, from sneakers to sandals. The additional tariffs would hit a category already taxed 11 times more than other goods, reaching rates as high as 48% and 67,5%.
It is an unavoidable fact that as prices go up at the border due to transportation costs, labor rate increases, or additional duties, the consumer pays more for the product.
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 Footwear Distributors and Retailers of America calculates that every year Americans spend in average $76,3 million dollars on footwear, an industry that employs more than 330k thousand people. The government’s proposed actions will add $7 billion in additional costs for customers every single year.
