Over 200 US companies urge Trump to cancel proposed higher tariffs
More than 200 U.S. footwear companies on Wednesday urged President Donald Trump to cancel proposed higher tariffs on Chinese imports that take effect beginning next month, calling them hidden taxes that will jack up consumer prices.
"Imposing tariffs in September on the majority of all footwear products from China -- including nearly every type of leather shoe -- will make it impossible for hardworking American individuals and families to escape the harm that comes from these tax increases," the companies wrote in a letter to Trump.
While tariffs on some Chinese imports will be delayed until Dec. 15, the majority of footwear lines face an added 15% tariff on Sept. 1, the letter said. That comes on top of tariffs that already average 11% and reach 67% on some shoes, it added.
"This added 15% tax will cost U.S. footwear consumers an additional $4 billion every year," the letter said, citing an estimate by the Footwear Distributors & Retailers of America (FDRA) trade group, which spearheaded the letter.
https://www.msn.com/en-us/money/companies/over-200-us-companies-urge-trump-to-cancel-proposed-higher-tariffs/ar-AAGsh6I?li=BBnbfcN
= new reply since forum marked as read
