Nike, Adidas and other shoe giants ask Trump to freedom of tariff

America’s largest shoe brands asking the president Donald Trump for a tariff.

Shoe distributors and retailers of the American trading group sent a letter to the White House this week, which asked the association to release the so-called “existential threat”. Letter signed by 76 shoe brands including Nike, Adidas, Scors and Armored.

“Many companies that give these high-speed shoes for diligent low and medium-income families, which can not exceed these high-tariffs, which is not immediately relaxed.

“Many orders have been stored and can run less soon in shoe inventory for US consumers,” the trade group said.

Extensive sweep tariffs announced on April 2, entered money in several countries Important resources For shoe suppliers, including China, Vietnamese and Cambodia. Were initial tariff rates with more than 45% for Vietnam and Cambodia humiliated Up to 10% in 90 days, the Trump Office has changed duties on Chinese imports, which is now subject to an effective tariff rate of about 145%.

Higher fares on Trump’s trade partners continue in early July.

Adidas before notier Tariffs this week, said that American consumers will have a higher price. Before announcing the concrete tariff rates in March, Nike’s financial chief will be global harvest and economic uncertainty result in sales in the present quarter.

The letter of the Shoe Association said that in the industry there are a significant task of products such as children’s shoes before disclosing the extensive tariffs of Trump. The trade group said that in general, US shoe companies will face tariffs between 150% and about 220%.

“This is an urgent condition that requires urgent measures and attention. This is not the month to adjust the work models and supply chains when buying an unprecedented and unexpected tariff mode,” he said.

The group then warned that the tariffs would not result in the return of the production as the Trump promised, Because the sources of enterprises are assured that it requires us to invest in changes.

The White House did not respond immediately to CNBC’s interrogation.