Leading American footwear companies have written to US president Donald Trump, urging him to “immediately remove” footwear from the proposed tariffs list of Chinese imports.
It comes after Trump increased tariffs of Chinese imports to 25% from 10% at the beginning of May.
Signatories, including Nike, Adidas, Converse, Puma, Ugg and Foot Locker, said that any additional tariff would be “catastrophic for consumers, companies, and the American economy as a whole”.
The Footwear Distributors and Retailers of America (FDRA) estimates that a 25% tax increase would cost US customers an extra $7bn every year.
The letter added: “While our industry has been moving away from China for some time now, footwear is a very capital-intensive industry… companies cannot simply move factories to adjust to these changes.”