CORRECTED-Crocs to cut sourcing of U.S. products from China by two thirds by 2020
In this article:
(Corrects headline and paragraph 1 to say by two thirds, not a third)
June 11 (Reuters) - Footwear maker Crocs Inc said on Tuesday by 2020 it would aim to cut the amount of U.S. products that it sources from China by two thirds to mitigate the impact of rising tariffs.
Assuming a 25% tariff takes effect on Aug. 1, Crocs estimates the 2019 impact at about $5 million.
The company said it currently imports about 30% from China and expects the amount to fall below 10% for 2020.
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)
