Adidas, Nike, PUMA say new tariffs on China would be 'catastrophic'

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"The proposed additional tariff of 25 per cent on footwear would be catastrophic for our consumers, our companies, and the American economy as a whole", the letter from the shoe coalition states.

More than 170 shoe companies and retailers - including Nike and Foot Locker and Under Armour - warned President Trump his proposed China tariffs would be "catastrophic".

The footwear companies who signed the letter, including Clarks, Dr Martens and Converse, claim that while the average USA tariff on footwear is 11.3%, in some cases it can reach as high a 67.5%.

The Trump administration attempted "to achieve unreasonable interests through extreme pressure", Kang said.

However, the shoe-makers and retailers say that while they have been moving their sourcing away from China: "Footwear is a very capital-intensive industry, with years of planning required to make sourcing decisions, and companies can not simply move factories to adjust to these changes".

Trump took the step after China sought major changes to a deal that USA officials said had been largely agreed.

Trudeau says slapping import taxes on billions of dollars' worth of American products got governors and state representatives to push their federal government to get the talks done and the trade dispute ended.

Shares in European chipmakers Infineon Technologies, AMS and STMicroelectronics fell sharply on Monday amid worries the Huawei suppliers may suspend shipments to the Chinese firm due to the US blacklisting.

But he said he had told Chinese President Xi Jinping before the most recent rounds of talks that any deal could not be "50-50" between the two countries and had to be more in favor of the United States because of past trade practices by China.

Shares in European chipmakers Infineon Technologies, AMS and STMicroelectronics fell sharply on Monday amid worries that Huawei suppliers may suspend shipments to the Chinese firm.

Adding to US-China tensions, the US military said one of its warships sailed on Sunday near the disputed Scarborough Shoal, which is in the South China Sea and which is claimed by China.

The official China Daily newspaper said in an editorial that the United States government had "revealed all its ugliness" in the restrictions on Huawei. It was the latest in a series of "freedom of navigation operations" that angered Beijing.

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