This past Friday the EU's tariffs of China-made leather shoes took effect which is going to hurt China's shoe industry. They've already begun to feel the pinch. According to an article at Chinaview.cn, Guangzhou Yunfang Shoe Trade Co. Ltd exported 500,000 pairs of shoes to Italy last year. Now the distributors are only placing half their usual orders because of the tariffs. Plus they want to only pay $2.50 for a pair of leather shoes vs. the previous $3.00 price.
$2.50 for a pair of leather shoes! I'm living in the wrong country!
"The EU's tariff will compel scores of small and medium-sized shoe makers to close down, menacing thousands of jobs," said Huang Rongmao, deputy secretary-general of the shoe industry council in Huizhou City of Guangdong.
Comment Preview