Chinese-Made Shoes Disappear in the US... Hit Hard by COVID-19

[Image source=Reuters Yonhap News]

[Asia Economy Beijing=Special Correspondent Park Sun-mi] If the COVID-19 situation prolongs, it is becoming increasingly likely that Chinese-made shoes will be hard to find in American stores.

On the 12th, CNBC reported that imports of Chinese-made shoes into the U.S. experienced the worst January in a decade, stating that the COVID-19 outbreak, following the trade war, is directly impacting the decline in U.S. imports of Chinese shoes.

Matt Priest, president of the U.S. Footwear Distributors and Retailers of America (FDRA), said in an interview with CNBC, "U.S. shoe imports from China had the worst January in over 10 years," adding, "Imports dropped by 15.7%. We did not expect it to fall this low."

He explained, "American consumers have not yet noticed a shortage of shoes on shelves, but if the COVID-19 situation continues, the situation could change. Many retailers stocked up on Chinese-made shoes before the Chinese Lunar New Year (Chunje), but if manufacturing does not recover due to the prolonged COVID-19 situation, it will impact the school reopening and shopping seasons."

According to the FDRA, about 70% of shoes sold in the U.S. are made in China. However, before facing the shock of the COVID-19 spread, U.S. imports of Chinese shoes had already been hit once by the U.S.-China trade war. CNBC reported that many companies such as Nike, Under Armour, and Puma are steadily shifting production from China to third countries like Vietnam.

Meanwhile, Adidas announced that due to the impact of COVID-19, its first-quarter sales are expected to decrease by up to 1 billion euros, and operating profit is expected to decline by 400 to 500 million euros. Under Armour also stated that its first-quarter sales are expected to decrease by 50 to 60 million dollars due to the COVID-19 impact.

This content was produced with the assistance of AI translation services.