Price increases for popular shoes could soon become a reality. A day after President Donald Trump said the United States would slap additional duties of 10% on $300 billion worth of consumer goods from China — including shoes — the Footwear Distributors and Retailers of America calculated how much of a hit consumers could see.
The price of a performance running shoe might jump from $150 to $187.50, an increase of about $38. A canvas sneaker that retails for $49.99 could cost $58.69. And a typical hunting boot might increase from $190 to $222.27, a $32 increase.
“President Trump is, in effect, using American families as a hostage in his trade war negotiations,” said Matt Priest, president and CEO of the Footwear Distributors and Retailers of America. “Tariffs are taxes, and this move will noticeably raise the cost of shoes at retail and will have a chilling effect on hiring in the footwear industry.”
According to FDRA, 70% of shoes sold in the U.S. come from China. Footwear imported from the country is already hit with upwards of 67% duties.
Trump announced the move on Twitter Thursday but seemed to leave the door open should he change his mind.
“Our representatives have just returned from China where they had constructive talks having to do with a future trade deal,” he said. “We thought we had a deal with China three months ago, but sadly, China decided to renegotiate the deal prior to signing.”
Trump added, “More recently, China agreed to buy agricultural product from the U.S. in large quantities, but did not do so. Additionally, my friend President Xi said that he would stop the sale of Fentanyl to the United States — this never happened, and many Americans continue to die!”