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

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


A man shops for shoes at a Nike outlet store in Los Angeles on April 10, 2025.

Frederic J. Brown | Afp | Getty Images

America’s largest shoe brands are asking President Donald Trump for a tariff reprieve.

The Footwear Distributors and Retailers of America trade group sent a letter to the White House this week asking for an exemption to Trump’s so-called reciprocal tariffs, which the association said pose an “existential threat” to the footwear industry. The letter is signed by 76 footwear brands, including Nike, Adidas, Skechers and Under Armour.

“Many companies making affordable footwear for hardworking lower and middle-income families cannot absorb tariff rates this high, nor can they pass along these costs. Without immediate relief from the reciprocal tariffs they will simply shutter,” reads the letter, which is dated April 29.

“Many orders have been placed on hold, and footwear inventory for U.S. consumers may soon run low,” the trade group said.

Trump’s wide-sweeping tariffs, announced on April 2, included levies on several countries that are important sources for footwear suppliers, including China, Vietnam and Cambodia. While the initial tariff rates of more than 45% for Vietnam and Cambodia were lowered to 10% for a 90-day period, the Trump administration has only ratcheted up duties on Chinese imports, which are now subject to an effective tariff rate of 145%.

Trump’s higher tariffs on dozens of trade partners are set to resume in early July.

Adidas previously warned this week that tariffs would lead to higher prices for American consumers. In late March, before the specific reciprocal tariff rates were announced, Nike’s finance chief said global levies and economic uncertainty would result in lower current-quarter sales.

The footwear association’s letter said the industry had already been facing significant duties on products such as children’s shoes before Trump announced his broad tariffs. In total, U.S. footwear companies will face tariffs ranging between 150% and about 220%, the trade group said.

“This is an emergency that requires immediate action and attention. The American footwear industry does not have months to adjust business models and supply chains while absorbing this unprecedented and unforeseen tariff regime,” the association wrote.

The group further warned that the tariffs will not result in bringing manufacturing back to the U.S., as Trump has promised, because they erase the certainty that businesses require in order to invest in sourcing changes.

The White House did not immediately respond to CNBC’s request for comment.

Don’t miss these insights from CNBC PRO



Source

Stephen Curry considers broadcasting, team ownership and PGA Tour Champions as NBA retirement inches closer
Business

Stephen Curry considers broadcasting, team ownership and PGA Tour Champions as NBA retirement inches closer

Stephen Curry isn’t retiring from the National Basketball Association yet, but he’s already thinking about new career paths — including broadcasting, team ownership and playing on the PGA Tour Champions. The Golden State Warriors star spoke to CNBC Sport as part of “Curry Inc.: The Business of Stephen Curry,” a television production centered on Curry’s […]

Read More
SailGP launches sports betting with DraftKings and Bet365
Business

SailGP launches sports betting with DraftKings and Bet365

Ticket holders on Governors Island, New York gather to watch SailGP races, Season 4, New York, Sunday 23rd June 2024. Katelyn Mulcahy for SailGP Fans watching the New York races for international sailing league SailGP this weekend will have another reason to root for their favorite team. SailGP is working with gaming companies DraftKings in […]

Read More
4-time NBA champion Stephen Curry says even he suffers from impostor syndrome
Business

4-time NBA champion Stephen Curry says even he suffers from impostor syndrome

Stephen Curry is a two-time National Basketball Association Most Valuable Player, a four-time league champion and among the greatest shooters of all time. He also owns a media company, a bourbon brand, a golf league for kids and a philanthropic foundation that gives back to students in Oakland, California. Yet, even the Golden State Warriors […]

Read More