Reuters – The Footwear Distributors & Retailers of America (FDRA) urged U.S. President Donald Trump to exempt shoes from reciprocal tariffs in a letter signed by makers including Nike, Adidas America, and Skechers.
WHY IT’S IMPORTANT
The FDRA letter, dated April 29, was signed by 76 footwear companies such as Deckers Brands, Capri Holdings, Under Armour, and VF Corp.
CONTEXT
President Trump had imposed broad-based tariffs on goods from major U.S. trading partners, potentially leading to a rise in prices.
ADDITIONAL INFORMATION
China’s Commerce Ministry said on Friday that Beijing was "evaluating" an offer from Washington to hold talks over Trump’s crippling tariffs.
WHAT’S NEXT
The letter asks for "a more targeted approach, focused on strategic items rather than basic consumer goods."
Reference : https://www.livemint.com/companies/nike-adidas-skechers-and-73-other-footwear-brands-urged-donald-trump-for-tariff-exemption-amid-fears-of-rising-costs-11746237655711.html
