Footwear companies facing possible tariffs in the U.S.
The United States' reliance on footwear imports, with 99% of products coming from countries such as Vietnam, China, and Indonesia, has led the industry to assess the impact of Donald Trump’s proposed tariffs following his re-election. These measures would mean that both global imports and products of Chinese origin would be subject to varying tariff rates.
Companies like Steve Madden and Wolverine Worldwide have already taken steps to diversify their production to mitigate risks. Steve Madden aims to reduce its dependence on China by 40% to 45%, through the possibility of expanding its manufacturing to Vietnam, Cambodia, Brazil and Mexico.
For its part, Wolverine has diversified the production of its brands, such as Saucony and Merrell, to other regions. Meanwhile, Under Armour does not anticipate a significant impact but remains attentive to tariff policies, according to Footwear News.