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Over 200 footwear firms caution Trump over tariffs
03 Sep '19
1 min read
Pic: Shutterstock
More than 200 footwear firms, including Adidas, Converse, Crocs, Nike, Foot Locker and JC Penney, last week wrote a letter to President Donald Trump requesting him to cancel new tariffs on Chinese imports that became effective from September 1. The letter was also sent to treasury secretary Steven Mnuchin and other top officials involved in China trade talks.
The letter was also signed by small and independent shoe stores.
"There is no doubt that tariffs act as hidden taxes paid by American individuals and families," US media reported quoting the letter.
Trump recently promised to hike planned tariffs on $300 billion in Chinese consumer goods imports, including shoes, from 10 per cent to 15 per cent. Those tariffs were set to begin taking effect September 1, though most goods will be duty-free until December 15—amove Trump made to avoid putting a damper on holiday retail sales.
"It is vitally important that the President knows his new taxes are going to hurt both their employees and families who buy shoes," said Footwear Distributors and Retailers of America president and chief executive officer Matt Priest. (DS)
The letter was also signed by small and independent shoe stores.
"There is no doubt that tariffs act as hidden taxes paid by American individuals and families," US media reported quoting the letter.
Trump recently promised to hike planned tariffs on $300 billion in Chinese consumer goods imports, including shoes, from 10 per cent to 15 per cent. Those tariffs were set to begin taking effect September 1, though most goods will be duty-free until December 15—amove Trump made to avoid putting a damper on holiday retail sales.
"It is vitally important that the President knows his new taxes are going to hurt both their employees and families who buy shoes," said Footwear Distributors and Retailers of America president and chief executive officer Matt Priest. (DS)
Fibre2Fashion News Desk – India
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