The National Retail Federation (NRF) and the Footwear Distributors and Retailers of America (FDRA) both issued statements expressing disappointment over the Trump Administration’s move last Thursday, July 31, to impose tariffs on multiple countries.
“We urge the administration to negotiate binding trade agreements that open markets by lowering tariffs, not raising them,” stated the NRF’s Executive VP of Government Relations, David French. “Tariffs are taxes passed on to U.S. consumers, leading to higher prices, decreased hiring, fewer capital expenditures, and slower innovation, which ultimately hurt Americans.”
French added, “Retailers have been able to hold the line on pricing so far, but the new tariffs will impact merchandise in the coming weeks. We have heard directly from small retailers who are concerned about their ability to stay in business in the face of these unsustainable tariff rates.”
In a separate statement, Matt Priest, president and CEO of Footwear Distributors and Retailers of America (FDRA), said, “Trump’s sweeping new tariffs are a tax on every American family buying shoes during the height of back-to-school season. Footwear already gets hit with some of the highest import duties out there, and now 77 percent of companies say even more shoes are facing higher costs. With inflation continuing to squeeze household budgets and economic uncertainty rising, these tariffs only add to the pressure at the checkout counter.
Priest added, “In July alone, Google searches for ‘shoe inflation’ hit an all-time high — 29 percent higher than the previous peak — proof that consumers are concerned and feeling the pain. We remain committed to working with the President to find sensible, more targeted approaches that don’t unfairly burden American families.”
Image courtesy Nike
