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Washington
Some of the world’s biggest footwear firms are urging US President Donald Trump to end the trade war with China, warning of a “catastrophic” effect on consumers.
In a letter signed by 170 companies, including Nike and Adidas, they said the President’s decision to lift import tariffs to 25 per cent will disproportionately impact the working class, the BBC reported.
They also warn that higher levies threaten the future of some businesses.
“It is time to bring this trade war to an end,” the firms urged.
Trump lifted levies on $200 billion worth of Chinese imports into the US from 10 per cent to 25 per cent more than a week ago after Washington and Beijing failed to reach a deal on trade.
