US footwear association claims ‘historic win’
25/06/2015
Agreed by a vote of 60 to 38, the bill now heads to President Obama for his signature.
It will mean the 12 nations negotiating the Trans-Pacific Partnership (TPP) can move quickly if and when they finalise remaining issues.
Matt Priest, president of the Footwear Distributors and Retailer of America (FDRA) said: “After a long and challenging few weeks, the footwear industry is extremely excited about the final passage of Trade Promotion Authority and the road ahead to finalizing the Trans-Pacific Partnership. The US Congress, in a bipartisan way, has provided President Obama with the tools and instructions he needs to complete the agreement, increasing jobs and economic opportunity for Americans.
“This was a team effort as the footwear industry rallied to the cause of economic expansion and job growth and I want to thank all involved for their efforts. This truly was a historic win for our industry.”
The FDRA says footwear tariffs average 10% and reach upwards of 67.5%. Duties on leather loafers are 8.5% versus 48% on most children’s shoes. It estimates that the TPP would provide duty savings of $500 million per year.
The FDRA is the largest footwear trade association in the US, representing the supply chain from design to manufacturing and retailers.
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