Steven Madden Shoes Will Halve Production in China, Says CEO

U.S. shoe brand Steve Madden Ltd. will cut nearly half of its China production within the next year as it braces for tariffs under a second Trump administration, reports The New York Times.

The retailer told Wall Street analysts on November 7 that it took action as soon as the election results were announced to brace for future tariffs on Chinese goods promised by President-elect Donald JTrump.

The former president has promised additional 60%  tariffs — or higher — on goods coming from China. He has also vowed to put tariffs of as much as 20% on all foreign-made goods in an attempt to increase manufacturing activity in the U.S.

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CEO Edward Rosenfeld said Steve Madden had been working to build up a factory base outside of China in places like Cambodia, Vietnam, Brazil and Mexico for several years.

But even as Steve Madden has reduced its manufacturing in China, more than 70% of the company’s U.S. imports still come from there, according to The Times.