Nike, Under Armour, among others, urge Trump to remove footwear from tariff list

(Reuters) - Leading U.S. footwear companies, including Nike Inc and Under Armour, on Monday urged the U.S.

Reuters May 21, 2019 01:05:27 IST
Nike, Under Armour, among others, urge Trump to remove footwear from tariff list

Nike Under Armour among others urge Trump to remove footwear from tariff list

(Reuters) - Leading U.S. footwear companies, including Nike Inc and Under Armour, on Monday urged the U.S. President Donald Trump to immediately remove footwear from the proposed tariffs list on goods imported from China.

"The proposed additional tariff of 25 percent on footwear would be catastrophic for our consumers, our companies, and the American economy as a whole," the companies said in a letter https://fdra.org/wp-content/uploads/2019/05/2019-Footwear-Tariff-Letter-1.pdf.

President Trump increased tariffs on $200 billion worth of Chinese imports to 25% from 10% earlier in May, a move widely expected to raise prices of thousands of consumer products including clothing and electronics.

(Reporting by Nivedita Balu in Bengaluru; Editing by Shailesh Kuber)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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