27 Jan The Footwear Industry’s Statement on Ambassador Froman’s Testimony Before Congress
Today, the Footwear Distributors and Retailers of America (FDRA) spoke on behalf of the footwear industry regarding Ambassador Froman’s testimony on the Trans-Pacific Partnership (TPP) before the Senate Finance and House Ways and Means Committees. TPP would provide over $400 million in duty savings for the footwear industry and American consumers, and would spur the creation of new footwear related jobs across America.
FDRA President Matt Priest issued the following statement:
“Ambassador Froman made a strong case to members of Congress today that passing the Trans-Pacific Partnership (TPP) will have significant benefits for American workers, businesses and families. The TPP offers a real opportunity to help everyday Americans who purchase shoes and those who work in the U.S. footwear industry, which employs hundreds of thousands of Americans in innovation, design, distribution, retail and marketing. There is bipartisan support and momentum for advancing the Trans-Pacific Partnership in 2015. I am very encouraged that both Houses of Congress made the President’s trade agenda a priority and are continuing to hold serious hearings on TPA and TPP. Congress should act in the coming weeks to give the President Trade Promotion Authority so that we can conclude negotiations on this important agreement and create and strengthen footwear jobs across the U.S.”
Fast Footwear Facts:
– 99% of all shoes sold in the U.S. are made overseas, despite some the highest tariffs on any consumer product
– Footwear tariffs average 10% and reach upwards of 67.5%
– Footwear tariffs are regressive: duties on leather loafers are 8.5% versus 48% on most children’s shoes
– The TPP would provide duty savings of over $400 million dollars per year to Americans and the footwear industry – creating new footwear design, marketing, distribution, and retails jobs