{"id":103599,"date":"2025-05-03T20:24:18","date_gmt":"2025-05-03T15:24:18","guid":{"rendered":"https:\/\/nationaltimes.pk\/eng\/?p=103599"},"modified":"2025-05-03T20:24:22","modified_gmt":"2025-05-03T15:24:22","slug":"nike-and-adidas-ask-trump-for-tariff-exemption","status":"publish","type":"post","link":"https:\/\/nationaltimes.pk\/eng\/2025\/103599\/","title":{"rendered":"Nike and Adidas ask Trump for tariff exemption"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>WHY IT\u2019S IMPORTANT<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pakistan(National Times)- The trade group said that the industry already faces significant levies, including children\u2019s shoes, which often have rates of 20%, 37.5%, or higher, before accounting for the new tariffs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>CONTEXT<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">President Trump had imposed broad-based tariffs on goods from major U.S. trading partners, potentially leading to a rise in prices. Trump had instituted sweeping tariffs in early April, including 145% tariffs to imports from China. China\u2019s Commerce Ministry said on Friday that Beijing was \u201cevaluating\u201d an offer from Washington to hold talks over Trump\u2019s crippling tariffs. Adidas, on Tuesday, held back from raising its 2025 financial forecasts despite strong first-quarter results, citing the uncertainty around U.S. import tariffs. Similarly, Skechers also withdrew its annual forecasts, citing the Trump administration\u2019s erratic trade policy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>KEY QUOTE<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cGiven the nature of the U.S. footwear industry, American footwear businesses and families face an existential threat from such substantial cost increases. Hundreds of businesses face the prospect of closure,\u201d said the letter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>WHAT\u2019S NEXT<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The letter asks for \u201ca more targeted approach, focused on strategic items rather than basic consumer goods.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WHY IT\u2019S IMPORTANT Pakistan(National Times)- The trade group said that the industry already faces significant levies, including children\u2019s shoes, which often have rates of 20%, 37.5%, or higher, before accounting for the new tariffs. CONTEXT President Trump had imposed broad-based tariffs on goods from major U.S. trading partners, potentially leading to a rise in prices. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":103600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-103599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nike and Adidas ask Trump for tariff exemption - Nation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationaltimes.pk\/eng\/2025\/103599\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nike and Adidas ask Trump for tariff exemption - Nation\" \/>\n<meta property=\"og:description\" content=\"WHY IT\u2019S IMPORTANT Pakistan(National Times)- The trade group said that the industry already faces significant levies, including children\u2019s shoes, which often have rates of 20%, 37.5%, or higher, before accounting for the new tariffs. CONTEXT President Trump had imposed broad-based tariffs on goods from major U.S. trading partners, potentially leading to a rise in prices. 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