Issue link: https://viewer.e-digitaledition.com/i/1004186
20 • Footwear Insight ~ July/August 2018 A Trade War 'Halo Effect' Could Be Damning What a Trade War Could Mean for Business. footwearinsight.com A s tensions over an all-out global trade war mounted earlier this summer, particularly with the first salvo in the U.S.-China tariff spat that imposed duties on $34 billion worth of China- and U.S.-made goods July 6, the sporting/outdoor goods and footwear/apparel industries were initially spared any direct consequence. But worry will mount in the months ahead, prompt- ing swift actions, if any more trade rhetoric out of Washington or Beijing turns into further action, or other U.S. trading partners in Canada, Germany and Mexico implement retaliatory measures. The U.S. Federal Reserve has already warned that the trading conflicts are impairing the stock market and could hurt overall economic growth going forward. Supply chain executives remain on high alert and deeply concerned. With many Americans on 4th of July holiday, China accelerated its dialogue on what the ongoing U.S.-China trade climate could mean for American consumers and businesses as analyst fears about the Trump Administration's threat to levy duties on essentially all China exports to the U.S., some $500 billion worth, mounted. In a statement, China's Commerce Ministry charged the U.S. with "typical trade bullying" that "will impact innocent multinational companies, ordinary enterprises and consumers alike." Additionally, the Chinese government accused the U.S. of violating World Trade Organization rules and igniting "the largest trade war in economic history to date." For its part, the Trump Administration has argued its trade measures are needed to force China to make changes, including ending its practice of requiring (Continued on page 22) THE FOOTWEAR EYE ANALYSIS Goodyear (and winged foot design) and Blimp are trademarks of The Goodyear Tire & Rubber Company used under license by Polyconix Corp sales@polyconix.com | (888) 467-5504 | goodyearshoecomponents.com See us at the NW Materials Show! August 15-16, 2018 emarks of The Goodyear Tir & e & Rubber Company u Please click or call to learn more about our new patented BIOPOLYMER.