Bags / Shoes & Accessories

This year, as the inflation problem in the U.S. market becomes more and more obvious, the price of footwear products in its market has also risen. In the past July, although the inflation phenomenon has eased at the macro level, the price of footwear products Prices are still up sharply, with footwear prices up 6.2% in July compared to last year, according to the latest data from Footwear Distributors and Retailers of America (FDRA). Men's shoes rose 4.9% last month, women's shoes rose 6.4%, and children's shoes rose 7.7%. Footwear prices in the first seven months of the year rose 5.8 percent from a year earlier, the fastest pace of growth in decades, the FDRA said.

The FDRA and other industry groups have been working hard to pressure the U.S. government to roll back the onerous tariffs on goods, mostly from China, that have been a major factor in soaring shoe prices. As early as October last year, FDRA wrote a letter to "help" President Biden, saying that the price of children's shoes in the United States has risen to the highest level in nearly 70 years. high import tariffs. The organization emphasized that, among all commodities, import duties on children's shoes are at a high level. It is reported that the general starting import tariff for children's shoes in the United States is 20% or 37.5%, and the highest is 70%. Driven by the two "black hands", the country's shoe companies can only pass on the cost pressure to commodity prices. Therefore, the organization asked Biden to cancel the 301 tariffs on children's shoes.

Recently, Steve Lama, president and CEO of the American Apparel and Footwear Association, continued: "The price of footwear is rising at an alarming rate, and it is clear that these tariff-driven inflation is dragging down American households and the American economy." FDRA President and CEO Matt Prist also said: "With today's inflationary problems having a devastating impact on footwear consumers across the country, time is running out to discuss the elimination of import duties on footwear."