Footwear will become more expensive: how will the tariff war with China affect Americans

Introduced USA 25 import duty percentage goods from China can hit the shoe industry a lot, and for buyers it will affect their wallets.

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Shoe distributors report that boots from China, worth $ 67, will increase in price by $ 30, but a pair of sneakers Nike Kobe AD increases in price from $ 160 to $ 200 or more.

The exact price increase will be published by the US Trade Representative by early April.

Last week, US President Donald Trump signed a memorandum on the introduction of tariffs on Chinese goods. The action aims to reduce the trade deficit with China, which Trump called the largest in the world.

The US sanctions impose duties on more than one hundred types of goods from China - from consumer electronics to footwear and clothing - totaling $ 60 billion - and are designed to punish Beijing for the decades-long theft of intellectual property (IP) of US corporations.

“The government has not yet been clear about which products are on this list and which are not,” said FDRA Executive Director Matt Priest. “Consumers are already paying more for shoes than they should.”

Worst case scenario

Tariff history in the US does not paint an optimistic picture. Tariffs 1930's recognized as catastrophic for this economy, and even target tariffs designed to protect the steel industry, introduced over the last 40 years, were ineffective at best, according to research, writes vestifinance.ru

Although economists believe that Trump's new tariffs can only lead to a slight reduction in US economic growth, a wider struggle may prove destructive and may even push the US economy into recession.

The struggle between the US and China can also affect wider territories, as many countries rely on exports to China. For example, slightly less than 19% of Australia’s total GDP in 2017 was obtained from the export of goods and services: a third of this export was sent to China.

Most of Australia's exports are primary goods, some of which are processed into finished goods and shipped to the United States. This means Australia and China's other trading partners could be at a crossroads, pushing the conflict to a global level.

5 March, WTO Director-General Robert Azevedo warned that a long path of protectionism could have global implications.

At the moment, there is no end to this process. In fact, Trump promised to deliver more blows in the near future.

“This is the first blow of many that are yet to come,” Trump said as he signed the tariff plan.

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