Nike, Adidas, And Other Footwear Brands Ask Donald Trump For Tariff Exemption

All the world’s biggest footwear brands are asking President Donald Trump for a tariff exemption. In a letter sent to the White House by the Footwear Distributors and Retailers of America trade group, 76 brands have signed a message calling the current situation “an emergency that requires immediate action.”

Nike, adidas, PUMA, and Under Armour are just some of the included names, not to mention the parent companies of brands like HOKA and Saucony. Nike Inc. was one of the companies hit hardest by news of “reciprocal tariffs” in April, with its stock dropping 11% last month. Additionally, just the other day, adidas warned of price increases due to tariffs in an earnings call. The footwear industry relies greatly on overseas production, particularly in countries like China, Vietnam, and Indonesia.

New Balance, which is the only big sneaker brand to have a Made In USA business, is notably absent from the list of signees. That being said, Made In USA footwear makes up only a small portion of the company’s total sales.

The letter, which you can read in full here, reads “Given the nature of the U.S. footwear industry, American footwear businesses and families face an existential threat from such substantial cost increases. Hundreds of businesses face the prospect of closure. Tens of thousands of jobs are at stake. Many orders have been placed on hold, and footwear inventory for U.S. consumers may soon run low.”

“If the current situation continues, American footwear workers and consumers will suffer. This is an emergency that requires immediate action and attention. The American footwear industry does not have months to adjust business models and supply chains while absorbing this unprecedented and unforeseen tariff regime. Many of our companies do not know how, or even if, they are going to pay the costs of already shipped merchandise now arriving on U.S. shores. The inability to pay for these immediate and unforeseen additional tariffs places many U.S. footwear businesses at imminent risk. We are deeply concerned about imminent U.S. footwear job losses, added costs for consumers, and reduced consumer spending that will fundamentally hamper our industry and harm the entire U.S. economy.”

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The post Nike, Adidas, And Other Footwear Brands Ask Donald Trump For Tariff Exemption appeared first on Sneaker News.

The post Nike, Adidas, And Other Footwear Brands Ask Donald Trump For Tariff Exemption appeared first on Sneaker News.