Nike, Adidas, Skecher and 73 other footwear brands urge Donald Trump to get exemptions for tariffs over fears of rising costs
May 2 (Reuters) – U.S. President Donald Trump urged U.S. President Donald Trump to exempt U.S. President Donald Trump from reciprocity tariffs in a letter signed by manufacturers including Nike, adidas America and Skechers.
Why it matters
The date of FDRA is April 29, signed by 76 footwear companies including Deckers Brands, Capri Holdings, Under Armour and VF Corp.
The trade group said the industry already faces important taxes, including children's shoes, which usually have a 20%, 37.5% or higher before considering new tariffs.
context
President Trump imposed extensive tariffs on goods from major U.S. trading partners, which could lead to higher prices.
Trump proposed extensive tariffs in early April, including a 145% tariff on imports from China.
China's Commerce Ministry said on Friday that Beijing is “evaluating” Washington's proposal to negotiate Trump's serious tariffs.
Adidas posted its 2025 financial forecast despite its huge results on Tuesday, citing uncertainty over U.S. import tariffs.
Similarly, Skechers also withdraws annual forecasts on the grounds of an unstable trade policy of the Trump administration.
“Given the nature of the U.S. footwear businesses and households are facing such a huge increase in cost. Hundreds of businesses are facing the prospect of closures,” the letter said.
What's next
The letter calls for “a more targeted approach that focuses on strategic projects rather than basic consumer goods.”
