Trump China Tariffs: Americans Would Pay $7 Billion More for Shoes Annually, FDRA Says
How much more will Americans pay for shoes if President Donald Trump’s proposed tariffs go into effect? An astounding $7 billion in additional costs per year, according to the Footwear Distributors and Retailers of America.
Footwear is included on the official list of products that could be hit by further tariffs on all remaining imports from China, which are valued at approximately $300 billion. The move comes after Trump last week put into effect a tariff increase from 10% to 25% on $200 billion in Chinese imports. (That list didn’t include footwear.) China is already retaliating — and Beijing today announced plans to set new tariffs of 5% to 25% on $60 billion of U.S. imports.
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But it’s the new round of tariff hikes that would hit shoe companies and consumers hard. Here are some new estimates from the FDRA on total increased retail costs post tariffs, using average pricepoints for popular styles:
-Basic kids’ shoes prices would rise from $10 to $15 a pair.
-Performance running shoes would increase from $150 to $206.
-Basketball shoes would go up from $130 to $178.74.
-The price of canvas sneakers would be hiked from $49.99 to $65.57.
-Hunting boots would increase from $190 to $248.56.
“These are the real numbers we have calculated; they are not empty rhetoric,” said Matt Priest, president and CEO of FDRA. “Import taxes on shoes are not paid by China. They are paid by every American, every time they buy shoes. This is not fair, it is not sustainable, and it will not solve our trade issues. We ask the President to read our numbers, realize hiking import taxes on shoes inflicts unnecessary financial pain on everyone in America, and take shoes off his new 301 list.”
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