12 Apr Footwear Industry Response to New Balance Opposition to TPP
Footwear Industry Response to New Balance Opposition to TPP
For Immediate Release
Contact: Matt Priest, Footwear Distributors and Retailers of America (FDRA) (202-737-5660)
FDRA President Matt Priest made the following statement in response to New Balance’s opposition to TPP:
“We are disappointed at New Balance’s change of heart on this vitally important agreement for the entire U.S. footwear industry over a matter unrelated to TPP. New Balance’s position is especially surprising as it is one of the companies that would see significant tariff reduction under the agreement. In fact, TPP will save footwear consumers and companies $450 million the first year of implementation and $6 billion over the first decade. That is why 99% of the entire footwear industry, both domestic manufacturers and importers, support TPP and why we will continue to lead the charge in explaining to lawmakers how this agreement will strengthen jobs across the U.S. and provide real value to footwear consumers.”
About the Footwear Distributors & Retailers of America (FDRA)
FDRA is the footwear industry’s voice in Washington. It represents over 130 footwear companies and 200 brands, or 80% of total U.S. footwear sales, making it America’s largest and most respected footwear trade association.