Nike and other major footwear brands have warned shoe prices could skyrocket if President Donald Trump goes ahead with plans to increase tariffs on Chinese imports.
“The proposed additional tariff of 25 percent on footwear would be catastrophic for our consumers, our companies, and the American economy as a whole,” the letter, which was published on the FDRA’s website, reads. While U.S. tariffs on all consumer goods average 1.9 percent, they average 11.3 percent when it comes to footwear and reach rates as high as 67.5 percent.
Last week, Trump announced plans to impose a 25 percent punitive tariff on thousands of Chinese products, as the trade war between the world’s two largest economies continued to escalate. Last week, the president suggested the U.S. held all the cards in the dispute, claiming businesses would leave China to avoid paying increased levies.“While our industry has been moving away from China for some time now, footwear is a very capital-intensive industry, with years of planning required to make sourcing decisions, and companies cannot simply move factories to adjust to these changes,” they added in the letter.
I don’t buy Nike products.
These sneaker companies only care about their profits. They don't care one bit that China is finally being challenged on all their abusive practices. This is one thing I agree with Trump on. Nike should take a hike. Their shoes are garbage anyway. Produce in USA
It’d skyrocket to almost no comparison possible on Brazil’s current import landed cost from China.
Umm...Just make them in the USA
Do not buy originates from nazi Germany.
they already have skyrocketed years ago. $300 for a $10 pair of shoes
They should probably ask for some money back from Kaepernick
Who cares? I quit wearing their slave labor produced product 20 years ago.
So make and assemble all your products here. End of story.
Bring the jobs back to the US maybe? Or move to another country. Stop supporting murderous dictators. If Nike and other big companies wanna be 'woke' stop operating in countries with active concentration camps.
They're already ridiculously expensive, but go ahead and blame Trump
Oh no, we won't be able to afford our already overpriced overrated footwear.
Good!
Fuck Nike. Produce them in USA, when they didn't fall apart when playing basketball...
Umm. Considering its cost like 6 bucks to make and they sell for 100s i think we're already their
So slave labor isn’t ok now bc it will cost me $1.50 extra for $200 cheap Chinese made shoes?
That's okay I give up my child slave labor a long time ago New Balance great shoes made in the USA
yeah.. make the shoes in the US.. give Americans jobs ya cheapskates
It’s not just Nike 73% of shoes bought in the USA are made in China
Trump won’t care unless hamberbers go up in price.
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