Last week the FDRA sent a letter to President Joe Biden before his SOTU speech urging him to take bold steps to eliminate footwear tariffs and, among other basic staples, to reduce the rising prices of retail shoes directly through the summer.
As the government struggles to get inflation under control, the one tool at their disposal is attacking the large cost creator that is import taxes. These high tariffs (20, 37.5, 48% on certain shoes) directly and greatly increase the price of shoes and other goods families pay.
FDRA President & CEO Matt Priest explained in detail why this is needed:
“Our companies continue to pay higher input and supply chain costs, which are passed along to consumers. The War in Ukraine may add even higher costs. The time is now to think and act boldly to help families and our economy. TARIFFS ARE ONE OF THE FEW THINGS THE GOVERNMENT CAN CONTROL, AND THE ADMINISTRATION SHOULD ACT WITH SPEED. We are asking President Biden to end all tariffs on shoes until the Fall to help alleviate record prices. Other policy options like stimulus spending may actually increase inflation, while proposals like price controls could cause greater long term harm. Tariff relief, however, would provide immediate and tangible benefits for hardworking American families during this difficult time.”