The FDRA is calling on the president to eliminate 301 tariffs on children’s shoes to help reduce the massive inflation seen by working-class families, the organization said in a media release.
The price of kids shoes has reached its highest in over 70 years, causing a big sticker shock to those who can’t afford it.
The Footwear Distributors and Retailers of America (FDRA) have sent a letter to President Biden asking him to eliminate the 301 tariffs that are causing the price of children’s shoes to skyrocket in retail stores. Due to supply chain costs, the obligations for certain children’s shoes have tripled, and the increase in costs has caused price spikes higher than other consumer goods, the organization said.
“The rising costs seen in the shoe supply chain have contributed to the rise in shoe retail prices. That was the lead, but the real headline is buried. Today, for most workers. In large retail stores where families shop, government import taxes account for 30% of the price of certain types of children’s shoes, which is why price inflation in children’s shoes far exceeds other basic products. That’s the main reason it’s outperforming, “read the letter.
Kids shoes are hit by one of the highest tariff rates on any product sold in the United States. Tariff rates on children’s shoes often start at 20% or 37.5% and can reach close to 70%. The highest tariff rates are generally levied on low-value footwear, creating regressive hidden taxes on working-class families. In addition, for a small number of children’s shoes, which are relatively cheap, the 301 tariff has led to a significant price increase. With the addition of 301 tariffs, the tariff rates on certain children’s casual shoes and slippers have doubled, and the tariff rates on certain plastic sandals, wool slippers and baby shoes for toddlers have more than tripled. ..
These tariffs affect the cost of each shoe, even before retailers have to add labor, transportation, marketing, and other costs to the final price tag.
Fiber2Fashion News Desk (KD)
FDRA urges U.S. government to eliminate tariffs that cause rising prices for children’s shoes
Source link FDRA urges U.S. government to eliminate tariffs that cause rising prices for children’s shoes