A list of 170 companies, led by the multinationals Adidas and Nike, asked the president of the United States not to apply tariffs to China.
“The proposed additional 25% footwear tariffs would be catastrophic for our consumers, our companies and the US economy in general,” the companies said in a letter sent to Donald Trump.
This is a response to what was done by the Office of the Foreign Trade Representative of the United States with respect to the planned strategy to impose taxes of 25% on Chinese imports valued at 300,000 million dollars.
Of these possible taxes, pharmaceutical products and some sanitary products, as well as critical minerals, would be excluded, but imports of meat and livestock products, dairy products, fruit and vegetables, auto parts and clothing, such as footwear, would be affected.
On the other hand, Nike and Adidas assured in their letter that the additional sanctions “will disproportionately harm the people and families of the working class.”
The United States Footwear Distributors and Retailers Organization assures that these tariffs could generate increases in the cost for their clients in about 7,000 million dollars annually.
K. Tovar
Source: Bancaynegocios
