FDRA calls on Biden administration to eliminate footwear tariffs
Matt Priest, president and CEO of the Footwear Distributors & Retailers of America (FDRA), called on the Biden administration to eliminate tariffs on footwear in order to address rising shoe prices
Highlighting the ongoing impact of the 301 tariffs, Priest pointed to the continued rise in retail footwear prices. Not only have they risen at record rates in two of the last three years, but they’re rising again. In March, footwear prices posted their largest year-over-year increase in 16 months, largely due to the additional burden of these tariffs placed on American companies and ultimately paid by consumers.
“Shoe imports are hit with an average 12% duty rate versus other imported goods that average around 2% Working-class families bear the brunt as shoe tariff rates are regressive. Children’s shoes and lower-value shoes often face import tax rates of 20%, 37.5%, and can reach nearly 70% in some cases. The added 7.5% 301 duty on certain shoes escalates prices further”, said Priest.
This translates to record prices at checkout for everyday essentials like children’s shoes, slippers wool slippers and plastic sandals, putting a strain on families who frequently need to replace these items throughout the year.
FDRA emphasises that shoes “are not a real negotiating tool in geopolitics” (unlike microchips) and that “we are now past the tipping point where misinformed tariffs on consumer products like footwear are causing record harm to Americans versus the good intended”.
Image Credits: timeout.com
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