Footwear giants Nike, Adidas and others ask Trump for tariff exemption
Publishing timestamp: 2025-05-02 15:55:45
Summary
Major footwear trade group, including brands like Nike and Adidas, sent a letter to President Trump asking for exemption from reciprocal tariffs, claiming they pose an "existential threat" to the industry. The tariffs could lead to higher prices for consumers and low inventory for U.S. consumers. The group warned that the tariffs will not bring manufacturing back to the U.S. as promised by Trump.
Sentiment: NEGATIVE
Tickers: NKE, UA, UAA, ADS-DE, SKX,
Keywords: breaking news: economy, business news, breaking news: politics, retail industry, under armour inc, skechers usa inc, adidas ag, sports apparel and footwear manufacturing, politics, shoes, donald trump, athletic footwear manufacturing, footwear manufacturing, trade, economy, donald j. trump, breaking news: business, nike inc, tariff,
Source: https://www.cnbc.com/2025/05/02/nike-adidas-footwear-giants-ask-trump-for-tariff-exemption.html