You May Want to Stock Up on New Sneakers Now

President Trump is in the midst of another tariffs frenzy this month, with the footwear industry in particular expressing concern over what happens next. The upshot, per Axios: "You may pay a lot more for your next few pairs of shoes." The outlet notes that most shoes imported to the United States come from Asia, including from Cambodia, Indonesia, and Vietnam, which were all recently slammed with new tariffs. Steve Lamar, CEO of the American Apparel & Footwear Association, calls the current state of the trade war a "chilling environment" for his industry. "If these high tariff rates are allowed to persist, these runway looks today are going to be replaced with runaway prices tomorrow," he says. More:

• Cost: The countries in question are set to see tariffs of anywhere from 20% to 40%, though there's still some confusion on whether the newer tariffs will be added onto the older ones or if they'll simply replace them. Exactly how much footwear prices will rise is unclear, though Yales' Budget Lab estimates they could spike up to 37% in the near future and hover close to 20% higher over the long haul.

• Impact: "It's the manufacturers that are going to be impacted more than the retailers," says Arun Sundaram of CFRA Research, who adds that retailers have more tools at their disposal to mitigate some of the tariffs than manufacturers do. Jason Miller, a professor of supply chain management at Michigan State University, adds that footwear consumers might not feel as hard-hit as those in other industries, as wider profit margins for other goods could help manufacturers and retailers absorb the tariffs, per ABC News.
• Ripple effect: Lamar tells Axios that, due to the uncertainty on how the tariffs will land, businesses are holding off on making important moves: "Those decisions that can be delayed are being delayed—delay in hiring, delay in investments, delay in sourcing decisions."
• A plea: Back in April, dozens of major shoe manufacturers, including Nike and Adidas, banded together to pen a letter to President Trump to implore him to spare their industry, per Business Insider. "Hundreds of businesses face the prospect of closure. Tens of thousands of jobs are at stake," the letter asserted. "We are deeply concerned about imminent US footwear job losses, added costs for consumers, and reduced consumer spending that will fundamentally hamper our industry and harm the entire US economy."
• Closer look: The AP examines the nations that have received tariff letters from the US in recent days and how each could potentially affect American consumers.