“Plan In Motion”: Steve Madden Execs Reveal Major Shift From China Ahead of Trump’s Return During multiple campaign rallies this past election cycle, President-elect Donald Trump suggested the possibility of a 10% or higher tariff on Chinese goods imported into the United States, which he argued would eliminate the country’s trade deficit. US companies with supply chains heavily exposed to China have taken note of Trump’s victory, and some are already implementing plans to shift manufacturing out of China. On an earnings call on Thursday, Steven Madden executives made it very clear that they understand the changing trade landscape around China and what it means when Trump returns to the White House on Jan. 20. Execs at the fashion-forward footwear and accessories company noted that heavily exposed supply chains to China would be rerouted out of the world’s second-largest economy – in a move considered ‘friend-shoring.’ During the call, a Citigroup analyst asked Steven Madden executives: Thanks for taking our questions. Just first one, if you could just update us on your China sourcing exposure in… What your thought is around how you address that going-forward in light of the potential tariffs. And then secondly, can you talk a bit more about what played out in the wholesale footwear channel. I believe you were expecting an improvement in the core managed wholesale footwear business in 3Q versus 2Q. So I guess, how did that trend versus, I believe it was down mid-single digits in 2Q. So just any color there would be great. Thanks. The executive responded: So first of all, with respect to your first question around China and potential tariff exposure. Look, we have — we have been planning for a potential scenario in which we would have to move goods out of China more quickly. We’ve — we’ve worked hard over