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Adidas, Nike, PUMA Say New Tariffs On China Would Be 'Catastrophic'

Wednesday, May 22, 2019, 7:22 PM

Adidas, Nike and PUMA urged US President Trump to prevent the shoe industry from falling victim to the trade-war with China, saying new tariffs could be "catastrophic." In a letter to Trump, those big-name manufacturers joined forces with more than 170 other American shoe manufacturers and retailers calling for footwear to be exempted from a-new-round of punitive tariffs on $300 billion in Chinese goods.
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US Trade War Could Slash 1% Of China's GDP, Warns Top Chinese Official

Saturday, May 18, 2019, 7:31 AM

A high-ranking Chinese official has said that the ongoing trade-war with the US could slash China's GDP by 1%, in first such admission by Beijing that tariff-war with Washington is biting the world's second-largest-economy. The Chinese economy which is on a downward trend slowed down to 6.8% last-year and the government this year officially slashed the GDP growth to be between 6.5 and 6%.
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China "Broke The Deal" In Trade Talks, Will Pay Through Tariffs: Trump

Thursday, May 9, 2019, 9:22 AM

President Donald Trump said on Wednesday that China "broke the deal" in trade talks with Washington and would face stiff tariffs if no agreement is reached. Trump has threatened to impose additional tariffs on Chinese goods beginning on Friday after China backtracked on substantial commitments it made during ongoing trade talks, top U.S. trade officials said this week.

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