Footwear maker Crocs Inc to cut sourcing sourcing U.S. products from China to 10% in 2020, down from 30%.

In a significant development, footwear maker Crocs Inc stated, it aims to cut the amount of U.S. products that it sources from China by two thirds, as it tries to mitigate the impact of import tarrifs.

Assuming a 25% tariff takes effect on August 1, 2019, Crocs estimates the 2019 impact at about $5 million.

It went on to add, it currently imports nearly 30% from China and expects this amount to fall below 10% in 2020.

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Tags: China, Crocs Inc, cut, footwear maker, import tarrifs, reduce, slash, sources, sourcing, U.S. products