Bloomberg – a commercial association that brings together footwear producers has asked the Trump administration to contemplate tariff exemptions for your productsarguing that the levies will make the cost of footwear in the US and will cause the closure of businesses.
On April 29, the letter of the Footwear Distributors and Retailers of America Association (Disributos and Footwear Retails of the United States) asks President Donald Trump Reconsider their tariffs, claiming that they are an “existential threat” for the industry.
See more: Trump’s tariffs stop Adidas goals: Will shoes prices upload?
“If this situation continues, the workers of the United States footwear will suffer,” said the group. “It is an emergency that needs action and attention immediately.”
The letter is signed by companies such as Nike Inc. (NKE), Under Armor Inc (UAA), Puma Se and the American subsidiary of Adidas.
Companies affirm that tariffs “will not boost the return of the manufacture of footwear to the US”, since this requires “an important capital investment and years of planning to relocate the sources of supply.”
According to the letter, the companies cannot absorb new costs while adjusting their models business to focus on national production.
The main footwear manufacturers, such as Vietnam and Indonesia, could face some of the highest tariff percentages. For example, half of the Nike brand footwear is manufactured in Vietnam.
Last month, Trump announced a 90 -day break in many of his proposed tariffs, including Vietnam and Indonesian taxes. The announcement caused strong falls in stock markets and generalized protests of business leaders.
Read more at Bloomberg.com
