Quartz/ Marc Bain/ May 13, 2019
The US is in the process of increasing tariffs on essentially everything the country imports from China, meaning industries spared from previous tariff hikes are probably going to be hit now. One category where shoppers are likely to start feeling the effect on their wallets is footwear.
According to the World Bank, China accounted for nearly 60% of the footwear the US imported in 2017â€”and nearly all of the footwear sold in the US is imported.
On May 10, the office of the US trade representative announced it was raising tariffs from 10% to 25% on roughly $200 billion worth of goods imported from China and, at the order of US president Donald Trump, would apply unspecified increases to the $300 billion worth of Chinese goods expected to enter the country.
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