Steve Madden company takes action to avoid tariffs
(CNN)– One U.S. company announced plans to change its business operations to avoid President-elect Donald Trump’s proposed tariffs.
On Thursday, Nov.7, multi-billion dollar shoe company Steve Madden said it would cut in half the amount of goods it sources from China to avoid heavy tariffs.
About two-thirds of Steve Madden’s business relies on goods that are imported to the United States.
And of those imports 70% are from China.
Trump has promised steep across the board tariffs on imports with a significant tax upwards of 60% on goods coming from China.
