FDRA appeals for elimination of footwear subsidies
The Footwear Distributors and Retailers of America, an association representing 500 companies, has asked the US government to eliminate all tariffs on shoes and other basic consumer goods from now until Labour Day (September 5).
It claims this would be a way to attack inflation successfully, as more stimulus or subsidises could add to inflation.
The association said: “The government needs to look at what is adding costs and remove those costs; for many basic retail staples like shoes, tariffs amount to a huge hidden tax paid by consumers. Today, certain kids’ shoes face tariff rates of 48% and higher, which raises shoe prices at retail. Eliminating these hidden taxes will translate into significant price reductions.
“We recognise eliminating footwear tariffs, even temporarily, will impact government revenues. However, bold steps are needed to help American families before stagflation takes hold. Eliminating tariff collections through summer will reduce prices on staples and give us a real shot at keeping our economy on track.”
Photo: Keen, a member of FDRA
