In a letter to US President Donald Trump, shoe brands such as Nike, Adidas America and Skechers turned around and asked to be freed from the rates. 76 shoe companies have signed.
“Given the nature of the American shoe industry, American shoe companies and families see themselves exposed to an existential threat due to such considerable cost increases. Hundreds of companies are threatened by the closure,” the letter said.
The Footwear Distributos & Retailers or America (FDRA) trade group pointed out that the industry has already been confronted with considerable taxes, for example for shoes for children who were often occupied with rates of 20 percent, 37.5 percent or more.
Customs tasks on car -Parts in force
Since midnight (local time), 25 percent surcharge for certain car parts in the US is also present. There are lighting for manufacturers that complete their vehicles in the US. You may have reimbursed part of the rates. Moreover, the extra rates on aluminum and steel may not be used for car parts to prevent a double load.
US President Donald Trump announced these exceptions a few days ago. He responded to complaints in the industry. However, it was only a “small help” during a “short transition phase,” he said. “In short, they pay 25 percent.” Trump had already announced rates of 25 percent weeks ago to imported cars and components. The delivery for finished cars became in operation at the beginning of April, which now followed for parts.
Half -assembled outside the country
Experts estimate that about half of the vehicles sold in the United States have been assembled outside the country. Even American manufacturers produce many cars abroad, for example in Mexico. According to the new announcements from the White House, there was confusion about the provisions for car parts from Canada and Mexico, which have been established according to the rules of the USMCA trading agreement. Exceptions have been applied so far. According to customs, these car parts are excluded from the 25 percent rates under certain conditions.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
