25 Aug TPP Would Save Families $4 Billion on Back-To-School Shoes
It’s that time of year again as children return to school across the country and that seasonal anxiety runs high, for parents and kids alike.
Some of parents’ anxiety surely comes from near-record spending on back-to-school items. The National Retail Federation (NRF) reports back-to-school spending for students grade K-12 has grown 55 percent over the past decade to $27.3 billion in 2016, averaging an unprecedented $673.57 per household this year. Accounting for $126.55 of that tally, per-household back-to-school spending on footwear even exceeds spending on school supplies.
While per-household back-to-school footwear purchases have risen over the years, the duties passed along to shoppers on imports of children’s footwear have risen even faster.