12 Jun The Footwear Industry Applauds TPA Passage, Calls for Immediate TAA Renewal
Today, the U.S. House of Representatives passed Trade Promotion Authority (TPA) by a vote of 219 to 211. The bill will head to the President’s desk if and when the House passes Trade Adjustment Assistance (TAA) in the coming days.
Footwear Distributors and Retailers of America (FDRA) President Matt Priest commented on TPA’s passage:
“We applaud the U.S. House of Representatives for passing Trade Promotion Authority (TPA). TPA is a process that has been enjoyed by every President since Franklin Roosevelt, and it will allow Congress to consider trade agreements like the Trans-Pacific Partnership (TPP), which is currently being negotiated. Unfortunately, our work is not yet complete as the House failed to advance the important Trade Adjustment Assistance (TAA) program, which was required in order for TPA to reach the President’s desk. We call on all members of the House of Representatives to vote in favor of this bill if and when it is considered.”
Priest continued, “The TPP agreement is critical to the footwear industry because it will create jobs and lower costs for American consumers. FDRA has worked for years to highlight the hundreds of thousands of U.S. footwear employees that rely on our ability to move goods all over the world, with trade supporting one in five jobs in America.“
Footwear has some of the highest duty rates on any U.S. import, averaging 10%, and going up to 37.5%, 48% and 67.5%. With 99% of all shoes imported, this duty burden impacts every American. With TPA passed, American footwear companies look forward to the over $400 million in cost savings the Trans-Pacific Partnership (TPP) would afford them and their customers.
About FDRA: FDRA is the footwear industry’s voice in Washington. It represents and advocates for over 80% of total U.S. footwear sales, making it America’s largest and most respected footwear trade association.