Over 70 major U.S. footwear companies, including giants like Nike, Adidas America, and Skechers, have pleaded with President Trump to exempt shoes from escalating tariffs. The request, detailed in a letter coordinated by the Footwear Distributors & Retailers of America (FDRA), warns of soaring prices and potential business closures if new import taxes proceed.
The industry already pays tariffs as high as 37% for children's shoes, and brands argue adding more would hit consumers hard. 'American families could see sneaker prices skyrocket,' the FDRA wrote. 🚨 Companies like Skechers and Adidas have already paused financial forecasts, citing trade policy 'uncertainty.'
🚨Why it matters: Tariffs on Chinese imports—which Trump hiked to 145% in April—threaten to disrupt a $90 billion footwear market. The FDRA is pushing for exemptions on 'basic consumer goods' like shoes, urging a 'targeted approach' to protect businesses.
The stakes? Higher costs for everyone—from sneakerheads to parents—and even store closures. As one exec put it: 'This isn't just business; it's about real people’s livelihoods.' 💼📉
