Sneaker giants Nike, Adidas, and others request tariff exemptions from Trump

The American footwear distributors and retailers trade organization sent a letter to the White House this week, requesting an exemption from the tariffs imposed by Trump, stating that these tariffs pose a survival threat to the footwear industry. The letter was signed by 76 footwear brands, including Nike (NKE.US), Adidas, Skechers (SKX.US), and Under Armour (UAA.US).

Trump announced the tariffs on April 2, which included tariffs on several major source countries for footwear suppliers, including China, Vietnam, and Cambodia. The initial tariff rates for Vietnam and Cambodia exceeded 45% but were reduced to 10% within 90 days; however, the Trump administration raised tariffs on imports from China, with the current effective tariff rate now at 145%.

The higher tariffs imposed by Trump on dozens of trading partners will be reinstated in early July