(Mike Segar/Reuters)More than 170 of the nation’s largest footwear companies have sent a clear message to President Trump: A trade war with China will burn a hole in Americans’ soles. Consumers ultimately absorb the tariffs in the form of higher retail prices, the shoe companies said, despite Trump’s insistence that China will foot the bill. Monday’s letter included signatures from such powerhouses as Nike, Adidas, Foot Locker, Ugg, Crocs, Steve Madden, Skechers and Converse. Complicating matters further: The shoe industry is deeply entrenched in China. Nike, Saucony and Under Armour had previously written to the White House, saying that shoe tariffs would lead to higher costs for consumers and fewer American jobs.

Source: Washington Post May 21, 2019 13:19 UTC