World Footwear


US China meeting to take place this weekend

Jun 28, 2019 United States
US China meeting to take place this weekend
President Trump and President Xi are expected to meet this Saturday in Osaka (Japan) during the G-20 Summit and the international trade topic is hot on the agenda
During a recent interview with Fox Business President Trump said he is prepared to impose tariffs if a deal is not reached over the coming weekend. The US President also mentioned tariffs could start at 10%, a lower rate compared to the previously mentioned 25%. During the same interview, President Trump also indicated that Vietnam is on the radar: "Vietnam takes advantage of us even worse than China."

On a side note, Treasury Secretary Steven Mnuchin also commented that the US-China trade deal is almost done (90% of it, at least) and he confirm his strong believe to its completion soon. 

301 Tariff Hearings

The public hearings for the proposed List Four tariffs ended yesterday, and the process officially closes on the 2nd of July. An announcement on the additional tariffs and a potential implementation date could be made at any time after the closing of the process. More than 300 companies and associations testified during the hearing, including executives from Wolverine Worldwide, Steve Madden, Shoe Carnival, Deer Stags, Fila, SG Companies, Strikeforce Bowling, Marc Fisher Footwear, J. Renee, Columbia Sportswear, VF, Kenneth Cole, and New Balance.

Source: FDRA
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