Following President Trump’s announcement of his intent to impose an additional $200 billion in tariffs on goods manufactured in China, Tom Cove, SFIA’s CEO and president, urged the two countries to return to negotiation table and said the “strain of explosive tariff threats back and forth strikes at the foundation of our economy.”
Sports and fitness products are so far not included in proposed tariff increases, according to Cove.
Cove’s full statement follows:
“SFIA urges President Trump to reconsider the situation and avoid increasingly dangerous tariff hikes, which will inevitably hurt American consumers and families. We believe all parties need to step back from the brink of a destabilizing and dangerous trade war, and return to the negotiating table to address the important challenges presented by a complex global economy. While SFIA is grateful that current lists of products targeted for steep tariff increases do not include footwear, apparel, sports equipment and fitness products, the strain of explosive tariff threats back and forth strikes at the foundation of our economy. This situation will have a negative impact on U.S. jobs and businesses and consumer spending. The bottom line is: Everyone loses in a trade war.”