Some of the world’s major footwear firms are advising Donald Trump to end the US trade war with China, warning of a “disastrous” result on consumers.
In a letter signed by 170 firms, including Nike and Adidas, they said the President’s choice to lift import tariffs to 25% will excessively effect the working class.
They also caution that higher taxes intimidate the future of some businesses.
Mr. Trump lifted taxes on $200bn worth of Chinese imports into the US from 10% to 25% more than a week ago after Washington and Beijing unsuccessful to reach a deal on trade.
China reacted by announcing plans to increase levies on $60bn of US imports from 1 June.