U.S. shoe, apparel makers see new China tariffs boosting prices
- Country:
- United States
President Donald Trump's threat to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept. 1 will hit consumers at the start of the important back-to-school buying season, two large trade groups warned on Thursday.
The Footwear Distributors and Retailers of America said the tariffs could also have a chilling effect on hiring. "President Trump is, in effect, using American families as a hostage in his trade war negotiations," the group's president, Matt Priest, said in a statement.
Stephen Lamar, executive vice president of the American Apparel & Footwear Association, told Reuters the tariffs would be "hugely disruptive," and would drive prices for consumers higher since they cannot easily be absorbed in the supply chain.
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