HANOI/JAKARTA (Bloomberg): A trade association representing footwear producers has asked the Trump administration to consider tariff exemptions for its products, saying the levies will drive up the cost of shoes in the US and cause businesses to shutter.
In the letter dated April 29, the Footwear Distributors and Retailers of America called on President Donald Trump to reconsider his tariffs, arguing they’re an "existential threat” for the industry.
"If the current situation continues, American footwear workers and consumers will suffer,” the group said. "This is an emergency that requires immediate action and attention.”
The letter is signed by companies including Nike Inc., Under Armour Inc., Puma SE and the US subsidiary of Adidas.
The companies say that the tariffs "will not drive shoe manufacturing back to the US” because this requires "significant capital investment and years of planning to shift sourcing.” Companies can’t absorb the new costs while adjusting their business models to refocus on domestic production, according to the letter.
Major footwear manufacturers such as Vietnam and Indonesia are potentially facing some of the highest tariff percentages. Half of all Nike brand shoes, for instance, are made in Vietnam.
Trump last month announced a 90-pause on many of his proposed tariffs, including those leveled on Vietnam and Indonesia. The announcement sparked sharp declines in equity markets and widespread protests from business leaders.
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