If Trump wins, footwear prices could rise
The upcoming presidential elections will take place in November, and if Donald Trump is re-elected, he plans to impose a 10% tariff on general imports and a 60% tariff on all imports from China.
For the footwear business sector, this policy would change the way of doing business with China, the leading supplier of shoes to the U.S. market. Matt Priest, CEO and president of the Footwear Distributors and Retailers of America (FDRA), said that there is interest among business owners to anticipate this measure.
With an annual import of 2.5 billion pairs of shoes, the sector pays US$ 4 billion in tariffs. Of these imports, 99% come from China, Indonesia, and Vietnam, according to Sourcing Journal.