Adidas, Nike, PUMA say new tariffs on China would be ‘catastrophic’ 0 SHARES Share it! The firms said the industry already pays $3 billion in duties and that additional tariffs would increase costs and prices. In a letter just after the new tariffs were announced, a group of 17 industry groups urged Trump to reconsider, given their reliance on China for goods. “In 2017, China accounted for about 41% of all apparel, 72% of all footwear, and 84% of all travel goods imported into the United States,” the letter said. In prior rounds of tariffs, the White House granted exemptions for some critical products at the request of US industries.

Source: Manila Bulletin May 21, 2019 17:15 UTC