'Tariffs on shoes catastrophic' Says Donald Trump

Washington: Major sneaker brands, including Adidas and Nike, told US President Donald Trump that proposed tariffs on imported shoes from China would be “catastrophic” for American consumers.

“Any action taken to increase duties on Chinese footwear will have an immediate and long-lasting effect on American individuals and families,” CNN quoted a coalition of more than 170 footwear companies as saying in a letter to Donald Trump on Monday.

“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 US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and Larry Kudlow, the director of the National Economic Council. Earlier this month, the Donald Trump administration hiked tariffs on $200 billion of Chinese-made goods. The tariffs mostly hit industrial materials and component parts, but also applied to luggage, hats, and gloves for US importers. Additionally, the Donald Trump administration has started a formal process to slap 25 percent tariffs on the remaining $325 billion in goods coming from China that aren’t already taxed. That list included sneakers, toys and other consumer products. (IANS)

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