Sneaker makers and retailers tell Trump a shoe tariff would be catastrophic

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The Footwear Distributors & Retailers of America estimates that the proposed footwear tariffs would add $7 billion in additional costs for consumers each year.

The typical "performance" running shoes may go from current $150 to $206.25 and hunting boots from $190 to $248.56.

Nike, Adidas, Under Armour, Foot Locker and other sneaker brands and retailers told Trump that proposed tariffs on imported shoes from China would be "catastrophic" for American consumers.

Tariffs are paid by domestic companies, which often pass the cost to consumers in the form of higher prices.

No further trade talks between top Chinese and USA trade negotiators have been scheduled since the last round ended on May 10 - the same day Trump raised the tariff rate on $200 billion worth of Chinese products to 25% from 10%.

"Even though over the past year or more the United States has continued to menace Chinese products with additional tariffs, everyone can see that the enthusiasm for foreign investors in China remains high", Lu said.

The Trump administration's addition of Huawei to a trade blacklist on Thursday immediately enacted restrictions that will make it extremely hard for it to do business with US counterparts.

The open letter, signed by 173 companies, stated that the tariff policy announced by the Trump administration last week could be catastrophic for consumers, U.S. companies, and the economy as a whole.

"I would like to reiterate once again that China-U.S. economic and trade consultation can only follow the correct track of mutual respect, equality and mutual benefit for there to be hope of success". China retaliated last week, saying it will raise tariffs from 5 to 25 percent on $60 billion worth of US goods, including coffee, batteries, and spinach.

Trump, Trudeau and tariffs - a timeline of the U.S. Footwear and clothing retailers, in particular, mostly still require humans to put together goods.

No new talks have been scheduled, and a sterner tone from Beijing suggested that negotiations were unlikely to resume soon and raised questions about a possible meeting between Trump and Chinese President Xi Jinping next month at a G20 Summit in Japan.