Nike, Adidas Join Footwear Brands Urging Trump to Drop ‘Catastrophic’ Tariffs on Shoes Made in China

May 21, 2019 - Time Magazine

Nike Inc., Adidas AG and other footwear giants 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 president, dated Monday and posted on the industry trade association’s website. It was also sent to Treasury Secretary Steve Mnuchin, Commerce Secretary Wilbur Ross and National Economic Council dire...