Devlin Carter, founder of luxury sneaker company SIA Collective, has built a successful business importing fashionable footwear primarily from China. However, the Trump administration’s tariffs have significantly increased the cost of importing goods, threatening the future of many small sneaker companies. Even industry giants like Nike are facing challenges due to tariffs imposed on goods produced in countries like Vietnam and Taiwan. The economic impact of these tariffs is causing prices to rise, potentially leading to a decrease in sneaker sales as consumers become more cautious with their spending. Small businesses like Carter’s are particularly vulnerable, as they rely heavily on imported goods and may have to pass cost increases along to customers. Sneaker collectors are also feeling the effects of tariffs, with the increased prices making it difficult to continue purchasing shoes at the same rate. Resellers are also being impacted, as they must buy shoes at higher rates and then sell them at even higher prices to turn a profit. Overall, the tariffs are causing uncertainty and disruptions in the sneaker industry, with many businesses and consumers facing financial strain as a result.
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