Wolverine World Wide has faced additional costs from U.S. tariffs on Chinese footwear exports that were equivalent to $3 million, or 5% of pre-tax profits, in its latest quarter. In the short term the firm will “neutralize the future impact through negotiated product cost reductions, some wholesale price increases, new product introductions, and further supply chain improvements” according to CEO Blake Krueger. Over the long-term Wolverine has already been cutting its exposure to China which will “decrease by an additional 50% in 2020, and continue to decrease at tha...