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 >
OpenAI rolls out new shopping features with ChatGPT search update
OpenAI rolls out new shopping features with ChatGPT search update
May 25, 2025
(Reuters) -OpenAI on Monday said it has updated ChatGPT's web search capabilities to improve online shopping for users with personalized product recommendations with images, reviews, and direct purchase links. The generative AI pioneer's search feature has gained popularity since its introduction last year, and has become one of its most sought-after tools, with over 1 billion web searches in the...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Easterly Government Properties Q1 Core FFO, Revenue Rise; 2025 Core FFO Outlook Narrowed
Easterly Government Properties Q1 Core FFO, Revenue Rise; 2025 Core FFO Outlook Narrowed
May 25, 2025
08:46 AM EDT, 04/29/2025 (MT Newswires) -- Easterly Government Properties ( DEA ) reported Q1 core FFO Tuesday of $0.73 per share, up from $0.71 a year earlier. Analysts polled by FactSet expected $0.72. Revenue for the quarter ended March 31 was $78.7 million, up from $72.8 million a year earlier. Analysts surveyed by FactSet expected $78.6 million. The company...
LGI Homes Q1 Earnings, Revenue Fall
LGI Homes Q1 Earnings, Revenue Fall
May 25, 2025
08:46 AM EDT, 04/29/2025 (MT Newswires) -- LGI Homes ( LGIH ) reported Q1 earnings Tuesday of $0.17 per diluted share, down from $0.72 a year earlier. Four analysts polled by FactSet expected $0.66. Home sales revenue for the quarter ended March 31 was $351.4 million, down from $390.9 million a year earlier. Analysts surveyed by FactSet expected $348.5 million....
Copyright 2023-2026 - www.financetom.com All Rights Reserved