Hey kids, have you ever wondered why the price of your favorite sneakers might go up? 😮 Well, recently, 76 shoe companies in the United States, like Nike, Adidas, and Skechers, asked President Trump to remove extra taxes called tariffs on shoes.
So, what’s a tariff? It’s like an extra cost that the government adds to products coming from other countries. This can make things like shoes more expensive in stores. 🛍️
The footwear industry already pays a lot in taxes, especially for kids’ shoes. Some shoes have taxes of over 20%, and even up to 37%! That’s before these new tariffs. 😱
These shoe companies are worried that if the tariffs stay, families might have to pay more for shoes, and some businesses might even have to close down. They wrote a letter to President Trump saying, “Please, let’s focus on important items, not everyday things like shoes.” 👟
They hope that by removing these extra taxes, shoes can stay affordable for everyone. What do you think about this? Do you think it’s fair to have extra costs on things we use every day? 🤔
Reference(s):
cgtn.com
