Regulation

Major shippers call tariffs "catastrophic" in open letter to Trump

Top shippers Nike, Adidas and other footwear majors call on President Donald Trump to reconsider his announced tariffs, warning that such a move would be "catastrophic".
Photo: DENIS BALIBOUSE/Ritzau Scanpix
Photo: DENIS BALIBOUSE/Ritzau Scanpix
BY EBEN NOVY-WILLIAMS, BLOOMBERG

Nike Inc., Adidas AG and other footwear giants urged President Donald Trump to reconsider his tariffs on shoes made in China, saying the policy would be "catastrophic for our consumers, our companies and the American economy as a whole."

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