Over 200 footwear companies are sounding the alarm today on big tariffs on Chinese imports due to come into effect on Sunday, September 1st.
In a letter signed by major U.S. companies including Nike, Adidas, JCPenney, K-Swiss, Harley-Davidson Footwear, Nautica, Skechers, Van - footwear companies warn that it would raise costs for American consumers.
“This American tax is on top of alreadyhigh footwear tariffs that average 11 percent and reach 67 percent on some shoes. The highest tariff rates generally fall on lower value shoes and children’s shoes, driving up costs for hardworking American families.”
It adds:
“There is no doubt that tariffs act as hidden taxes paid by American individuals and families. When import costs rise and fall on imported footwear – whether based on the price of materials, transportation, labor, or tariffs – those cost increases or savings are almost immediately passed on to consumers.”
The companies say the September 1st tariffs are “massive tax increases” that will hit tens of millions of Americans during the holiday season.
Trump has promised to increase tariffs on $300 billion on Chinese goods, including shoes.
Though, most goods will be duty-free until December 15, when tariffs will rise for more goods.