The Footwear Distributors and Retailers of America (FDRA) has urged U.S. President Donald Trump to exempt shoes from "reciprocal tariffs," warning of serious consequences for consumers and the industry.
"American footwear businesses and families face an existential threat from such substantial cost increases," the FDRA said in a letter to Trump on Tuesday, signed by 76 footwear companies, including major brands like Nike, Adidas America and Skechers.
"We are hit particularly hard by the tariff actions," it said, noting the new "reciprocal rates" are stacked on top of the existing high footwear tariff rates, pushing many American footwear companies to pay a tariff ranging from more than 150 percent to nearly 220 percent.
Hundreds of businesses face the prospect of closure, tens of thousands of jobs are at stake, many orders have been placed on hold, and footwear inventory for U.S. consumers may soon run low, it said.
These tariffs will not drive shoe manufacturing back to the United States, said the letter.
"This is an emergency that requires immediate action and attention," it noted, adding the American footwear industry does not have months to adjust business models and supply chains while absorbing this "unprecedented and unforeseen tariff regime."
(Source: Xinhua)
Related News:
Chaotic US foreign policies become gifts to China, Kishore Mahbubani says
Comment