Tracking tariffs from the trade war to your pocket
A global showdown is about to draw battle lines that run through your wallet. On Sunday, tariffs went into effect on $110 billion of goods imported from China.
How and when that will work its way into your pocket depends on the product.
While China does manufacture shoes, Mike Ewoldt, at Peak Performance, said, “Just want to show you some boxes. That’s USA on them.”
Ewoldt has owned Peak Performance shoe stores for a couple of decades. Moving around the store customers can find shoes made in many countries.
Ewoldt said, “Only about a third of our shoes are made in China. The rest are manufactured in other parts of the world such as Vietnam. Some of our shoes are assembled in the United States, that type of thing. So it’s yet to be determined whether it’s going to affect our business or not.”
Shoes made in China once represented a larger portion of Ewoldt’s inventory but the shoe industry has been changing.
Ewoldt said, “Over the last five to 10 years manufacturers have actually been moving out of China. We see a lot more shoes being produced either in Vietnam or Thailand type of thing.”
Even with a third of his shoes being made in China, Ewoldt does not expect any price hikes soon.
“Honestly, we probably won’t see anything until the next model year comes out because the cost is already written into these shoes. So even if the tariffs take place today kind of thing we may not see an effect on our business as far as purchasing the shoes for another six to nine months.”
One product that won’t be impacted by tariffs, the company’s shirt. As the label says it is designed, cut, sewn and printed in the USA.