Steve Madden drastically reduces Chinese production to avoid Trump tariffs [Video]

President-elect Donald Trump has promised steep across-the-board tariffs on imports to the United States, with a particularly significant tax on goods coming from China. One U.S. company, just two days after Trump’s reelection, says it isn’t wasting time getting out of China.Steve Madden, a $3 billion shoe company, announced Thursday that it would rapidly halve its Chinese production to avoid Trump’s tariffs. Those plans have been in place for a long time, in anticipation of a Trump victory, according to Steve Madden’s CEO Edward Rosenfeld.“We have been planning for a potential scenario in which we would have to move goods out of China more quickly,” Rosenfeld told Wall Street analysts Thursday. “And so, as of yesterday morning, we are putting that plan into motion. And you should expect to see the percentage of goods that we sourced from China to begin to come down more rapidly going forward.”Like all footwear …