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This is how much your shoes will cost if proposed tariffs take effect

Posted: 1:24 PM, May 21, 2019
Updated: 2019-05-21 13:54:03-04
This is how much your shoes will cost if proposed tariffs take effect

President Donald Trump has begun the process of raising tariffs on the remaining $325 billion in goods coming from China that aren't currently taxed — and this includes shoes.

The 25 percent tariff on shoes imported from China would impact many people, including consumers. The Footwear Distributors and Retailers of America estimates the tariff hike would add about $7 billion in additional costs for shoppers.

Nike, Adidas, Under Armour, Foot Locker and other sneaker brands and retailers told Trump that proposed tariffs on imported shoes from China would be "catastrophic" for American consumers.

"Any action taken to increase duties on Chinese footwear will have an immediate and long-lasting effect on American individuals and families," a coalition of more than 170 footwear companies said in a letter to Trump. "It will also threaten the very economic viability of many companies in our industry."

And while $7 billion certainly sounds like a large figure, how does it break down? Here's a rundown of how much more you can expect to pay if these tariffs take effect, according to the FDRA:

Sneakers

How cost breaks down now

  • Current import price: $14.60
  • Current duty rate: 14.1 percent
  • Duty: $2.06
  • Final import price: $16.06
  • Final retail price before tariffs: $48.18

How cost breaks down after proposed tariffs

  • Current import price: $14.60
  • Current duty rate: 14.1 percent
  • Duty: $2.06
  • Additional duty if tariffs take effect: 25 percent
  • New duty: $5.71
  • New final import price: $20.31
  • Final retail price after tariffs: $60.93

Cost to consumer: $12.75

Boots

How cost breaks down now

  • Current import price: $16.18
  • Current duty rate: 37.5 percent
  • Duty: $6.07
  • Final import price: $22.25
  • Final retail price before tariffs: $66.74

How cost breaks down after proposed tariffs

  • Current import price: $16.18
  • Current duty rate: 37.5 percent
  • Duty: $6.07
  • Additional duty: 25 percent
  • New duty: $10.11
  • New final import price: $32.36
  • Final retail price after tariffs: $97.08

Cost to consumer: $30.34

Children's shoes

How cost breaks down now

  • Current import price: $4.25
  • Current duty rate: 9.52 percent
  • Duty: 40 cents
  • Final import price: $4.65
  • Final retail price before tariffs: $13.96

How cost breaks down after proposed tariffs

  • Current import price: $4.25
  • Current duty rate: 9.52 percent
  • Duty: 40 cents
  • Additional duty: 25 percent
  • New duty: $1.87
  • New final import price: $6.12
  • Final retail price after tariffs: $18.36

Cost to consumer: $4.40

China is a key link in the supply chain for US shoe companies. China accounted for 72 percent of all footwear imported into the United States in 2017, according to data from retail industry trade groups .

See what other items are being considered for a tariff hike in the report below:

CNN contributed to this report.