WEB DESK
More than 170 footwear companies, including top brands Nike and Adidas, have urged US President Donald Trump not to raise tariffs on shoes made in China.
In a letter to President Trump, the companies warned that the proposed tariff hike would be catastrophic for their customers and the American economy as a whole.
They said the proposed actions would add seven billion dollars in additional costs to their customers ever year.
They added that it is time to bring the trade war to an end.
The Trump administration has begun procedures to charge duties of up to 25 percent on Chinese imports worth about 300 billion dollars.
If implemented, the move means tariffs will be raised on nearly all Chinese goods imported to the US, including toys, cell phones and sneakers.
The US sneaker industry, which is valued by some at more than 63 billion dollars, is known for its heavy reliance on manufacturing bases in China.