China shoes manufacturers how to face the new tariffs from UStrendoneshoes
China shoes factories and US footwear importer will be hit with the new tariffs?
The American shoe industry has been one of the biggest casualties of the escalating trade war between the United States and China,
US President ready announced a new round of tariffs on $300bn of Chinese imports that have not yet been levied. The 10% tariff will take effect from September 1. The new tariffs will affect consumer goods such as clothing, bedding and shoes. Shoe companies, in particular, will be hit hard.
As much as 70% of shoes sold in the U.S. come from China, according to the American footwear distributors and retailers association. The American footwear distributors and retailers association has more than 500 members, including walmart, Nike, crocs and Steve madden. Matt priest, President and chief executive officer of the American footwear distributors and retailers association, said that with tariffs already imposed on footwear from China at more than 67 percent, consumers will not be able to afford the additional tariffs. The new tariffs mean that some working families in the United States will pay almost 100 percent tariffs on the shoes they buy.
According to FDRA’s calculations, the 10 per cent tariff will increase the price of a popular canvas “skate” sneaker from $49.99 to $58.69.The price of a pair of regular hunting boots will jump from $190 to $222.27.A high-performance running shoe can go from $150 to $187.50.Companies like Nike, Under Armour and Puma have been steadily reducing their reliance on China and shifting their sourcing to places like Vietnam.
Still, the U.S. imported $11.4 billion worth of Chinese footwear last year, according to the U.S. Census Bureau, making the shoe industry an industry that relies heavily on cheap, skilled labor. Nike, for example, made 47 per cent of its shoes in Vietnam in fiscal 2018, compared with 26 per cent in China and 21 per cent in Indonesia, according to its latest annual report.