The largest manufacturers and retailers of the US shoes sent an appeal to President Donald Trump with a request to free shoe products from trade duties. Among the signatures are such well -known brands as Adidas, Columbia, Crocs, Nike, Skechers, Toms and Under Armor.
In a joint letter, the company expressed concern about the rapid increase in costs, which, according to them, poses an “existential threat” for the industry. “As leading representatives of the American shoe industry, we urge you to free our products from duties introduced on the basis of the principle of reciprocity,” the document says.
According to the circulating, hundreds of companies are at risk of closing. Many orders have already been suspended, and the stocks of shoes in warehouses are rapidly reduced, which can lead to a deficit in the consumer market.
It is noted that new duties are imposed on already high taxes on shoe products, as a result of which total fees can reach 150-220 percent. Of particular concern is the situation of companies producing affordable shoes for low and medium income families – they, as emphasized, are not able to cover additional expenses or transfer them to consumers.