e letter to Treasury Secretary Steve Mnuchin
yaya2017 (IP Logged)
31 May, 2019 09:36
The tariff increase to 25% Nike Air Max 95 Femme on footwear not already subject to Mr. Trump's existing tariffs could cost consumers $7 billion more a year, the FDRA estimates. Footwear companies Nike Air Max 90 Womens already pay some of the highest duties,Nike Air Max Tavas Mujer so the industry is close to united in its opposition. "This significant tax increase, in the form of tariffs, would impact every type of shoe and every single segment of our society," an FDRA www.verdeypaisaje.es letter signed by the 170 companies said, adding that the tariffs would ask "the American consumer to foot the bill."The U.S. earlier this month increased tariffs from 10% to 25% on $200 billion Nike Air Max 97 Femme worth of Chinese goods. Mr. Trump also proposed an expanded round of tariffs on what's effectively the remainder of Chinese imports of about $300 billion. The U.S. Trade Representative is now evaluating Adidas ZX Flux Dámské that Nike Air Max 95 Dámské additional 25% increase, which includes footwear. The increases could hit just in time for back-to-school season, Mary Lovely, an economics professor at Syracuse University and a fellow at Peterson Institute Adidas ZX Flux Mujerfor International Economics, wrote in a piece for Adidas ZX Flux Mujer CNN.

More than half of all imported goods from China, the U.S.'s biggest trading partner last year, are already subject to tariffs imposed by the White House.Some companies have spent the Nike Air Max Command Womens past several decades setting up their supply system in China as factories there perfected low-cost production with simple shipping routes to the U.S. West Coast. Footwear and clothing retailers,Nike Air Presto Dam in particular, mostly still require humans to put together goods.Footwear companies that signed the letter to President Trump have different levels of dependence on China. Nike made about a quarter of Nike Air Vapormax Womens its Nike Air VaporMax Mujerfootwear and apparel in China during its 2018 fiscal year. Puma made 24% of its goods in China, but 32% in Vietnam. Skechers U.S.A. makes roughly 65% of its products in China, yet only some is imported www.marimarruiz.es to the U.S., Bloomberg notes.

Finding substitute capacity Adidas ZX 750 Dámské for factories in other countries while keeping costs low could can take years or even decades, retailers say. For example, Under Armour, also a signatory on the letter, gets about 18% of www.romanvavrik.cz its products from China — down from 46% in 2013, and its goal is to cut it to 7% by 2023, according to Bloomberg.The industry association also sent the letter to Treasury Secretary Steve Mnuchin, Nike Air Max 720 Femme Commerce Secretary Wilbur Ross and National Economic Council director Larry Kudlow.Mr. Trump is scheduled to meet with Chinese President Xi Jinping next month.Tariffs are paid by domestic companies, Nike Air Pegasus 83 Mujer which often pass the cost to consumers in the form of higher prices. Here's how much more your shoes could cost if Mr. Trump moves ahead and imposes new duties, according to estimates from the Footwear Nike Air VaporMax Femme Distributors and Retailers of America:


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