Go Beyond the Headlines.
Published loading...Updated

Footwear giants Nike, Adidas and others ask Trump for tariff exemption

  • On April 29, 2025, a coalition of more than 70 U.S. Footwear companies, represented by the trade association FDRA, sent a letter to President Trump requesting that footwear be excluded from the newly implemented reciprocal tariffs.
  • The request follows Trump’s April 2 tariff announcement, which imposed steep reciprocal duties on footwear imports from countries like China, Vietnam, and Cambodia, triggering business uncertainty.
  • The letter highlights that existing tariffs on children's and low-cost shoes reach up to 37.5%, with new tariffs stacking on top to result in rates from 150% to 220%, risking job losses and reduced consumer spending.
  • Adidas CEO Bjørn Gulden explained that because the company depends heavily on imports, the increased tariffs will lead to greater expenses across its entire product range in the US. The letter also described the situation as a critical issue demanding urgent intervention.
  • The footwear industry warned the tariffs will undermine capital investment needed to shift sourcing or produce domestically and requested a targeted tariff approach focusing on strategic national security items.
Insights by Ground AI
Does this summary seem wrong?

29 Articles

All
Left
3
Center
7
Right
4
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 50% of the sources are Center
50% Center
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

CNBC broke the news in United States on Friday, May 2, 2025.
Sources are mostly out of (0)

You have read out of your 5 free daily articles.

Join us as a member to unlock exclusive access to diverse content.