Nike, Adidas Call Tariffs ‘Catastrophic’ in Letter to Trump
- ‘We ask that you immediately stop this action,’ companies say
- Footwear companies already pay some of the highest duties
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Nike Inc., Adidas AG and other footwear companies urged President Donald Trump to reconsider his tariffs on shoes made in China, saying the policy would be “catastrophic for our consumers, our companies and the American economy as a whole.”
In all, 173 companies signed an open letter to the U.S. president, dated Monday and posted on the industry trade association’s website. “On behalf of our hundreds of millions of footwear consumers and hundreds of thousands of employees, we ask that you immediately stop this action,” the group said.