May 22, 2019

Footwear giants urge Trump to end trade war

Some of the world's biggest footwear firms are urging Donald Trump to end the US trade war with China, warning of a "catastrophic" effect on consumers.

In a letter signed by 170 companies, including Nike and Adidas, they said the President's decision to lift import tariffs to 25% will disproportionately impact the working class.

They also warn that higher levies threaten the future of some businesses.

"It is time to bring this trade war to an end," the firms urged.

Mr Trump lifted levies on $200bn worth of Chinese imports into the US from 10% to 25% more than a week ago after Washington and Beijing failed to reach a deal on trade.

China retaliated by announcing plans to raise levies on $60bn of US imports from 1 June.

(BBC News)

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