JACKSONVILLE, Fla. – Major U.S. footwear companies including Nike, Adidas and Under Armour implored President Donald Trump to remove footwear from the proposed list of goods imported from China set for tariffs.
"The proposed additional tariff of 25 percent on footwear would be catastrophic for our consumers, our companies, and the American economy as a whole," a group of 173 companies said in a letter.
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The Footwear Distributors & Retailers of America estimates the hike in tariff would add $7 billion in additional costs for customers every year.
"Your proposal to add tariffs on all imports from China is asking the American consumer to foot the bill,” the letter stated.
Trump increased tariffs on $200 billion worth of Chinese imports to 25% from 10% earlier this month, a move that is expected to raise prices on thousands of products including clothing, furniture and electronics
Trump is expected to impose 25% tariffs on another $300 billion worth of Chinese goods when he meets Chinese President Xi Jinping next month.
“As an industry that faces a $3 billion duty bill every year, we can assure you that any increase in the cost of importing shoes has a direct impact on the American footwear consumer,” the companies said.
The letter was also sent to Treasury Secretary Steve Mnuchin, Commerce Secretary Wilbur Ross, Trade Representative Robert Lighthizer and National Economic Council director Larry Kudlow.