financetom
Business
financetom
/
Business
/
Trade Group Asks President Trump to Exempt Footwear Brands From Tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trade Group Asks President Trump to Exempt Footwear Brands From Tariffs
May 26, 2025 1:06 AM

08:57 AM EDT, 05/05/2025 (MT Newswires) -- The Footwear Distributors and Retailers of America asked US President Donald Trump in a letter to exempt footwear brands from the reciprocal tariffs.

The letter, signed by brands including Nike ( NKE ) , Skechers U.S.A. (SKX), Under Armour ( UAA ) , VF Corp. ( VFC ) , Capri Holdings ( CPRI ) , Deckers Outdoor ( DECK ) , Wolverine World Wide ( WWW ) , Caleres ( CAL ) , Columbia Sportswear ( COLM ) , Crocs ( CROX ) , Genesco ( GCO ) , Rocky Brands ( RCKY ) , Steven Madden (SHOO), Weyco Group ( WEYS ) , Adidas, Puma, and others on Tuesday, said that the US footwear sector faces an "existential threat" from cost hikes, saying a lot of jobs are "at stake."

"Many companies making affordable footwear for hardworking lower and middle-income families cannot absorb tariff rates this high, nor can they pass along these costs," the FDRA letter added. "Without immediate relief from the reciprocal tariffs, they will simply shutter."

The trade group also said that the tariffs pose an "emergency" that needs "immediate action and attention" as footwear workers and consumers in the country will "suffer."

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
China's Leapmotor and Stellantis open orders in Europe for budget EVs
China's Leapmotor and Stellantis open orders in Europe for budget EVs
Sep 24, 2024
MILAN (Reuters) - China's Leapmotor is set to start taking orders in Europe for a city car and an SUV, the automaker and its partner Stellantis ( STLA ) said on Tuesday as they expand their budget electric vehicle (EV) offering in the region. Stellantis ( STLA ) holds a 51% stake in their Leapmotor International joint venture and has...
Update: Market Chatter: Novo Nordisk's Diabetes, Obesity Drugs On Track to Hit $65 Billion in Lifetime Sales by Year's End
Update: Market Chatter: Novo Nordisk's Diabetes, Obesity Drugs On Track to Hit $65 Billion in Lifetime Sales by Year's End
Sep 24, 2024
03:32 AM EDT, 09/24/2024 (MT Newswires) -- (Updates with Novo Nordisk's ( NVO ) statement in the last paragraph.) Novo Nordisk's ( NVO ) Ozempic and Wegovy are on track to generate $65 billion in lifetime sales by the end of 2024, Bloomberg reported Monday. The diabetes and obesity medicines have generated cumulative sales of nearly $50 billion as of...
Mastercard Insider Sold Shares Worth $2,294,981, According to a Recent SEC Filing
Mastercard Insider Sold Shares Worth $2,294,981, According to a Recent SEC Filing
Sep 24, 2024
04:34 PM EDT, 09/23/2024 (MT Newswires) -- Venkata R Madabhushi, Chief Marketing Officer, on September 20, 2024, sold 4,685 shares in Mastercard ( MA ) for $2,294,981. Following the Form 4 filing with the SEC, Madabhushi has control over a total of 15,031 shares of the company, with 15,031 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1141391/000114139124000181/xslF345X05/wk-form4_1727123267.xml Price: 495.76, Change: -1.38, Percent...
Takeda Pharmaceutical Says Colorectal Cancer Drug Received Marketing Approval in Japan
Takeda Pharmaceutical Says Colorectal Cancer Drug Received Marketing Approval in Japan
Sep 24, 2024
03:53 AM EDT, 09/24/2024 (MT Newswires) -- Takeda Pharmaceutical ( TAK ) said Tuesday it received approval from Japan's Ministry of Health to produce and market its Fruzaqla drug for advanced or recurrent colorectal cancer that cannot be cured or surgically treated and has progressed after chemotherapy. The approval is based on results from a phase 3 trial that met...
Copyright 2023-2026 - www.financetom.com All Rights Reserved