In order to mitigate the possible devastating effects of the coronavirus epidemic, U.S. shoe distributors and shoe retailers sent a letter to the White House urging them to freeze shoe duties to offset the escalating business impact of coronavirus, Footwearnews.com writes.
In a letter addressed to the director of the US National Economic Council, Larry Kudlow, President and CEO of the Footwear Distributors and Retailers of America, Matt Priest wrote that now is the right time to impose a tariff ban in order to reduce the costs of American families.
“According to our estimates, in 2020, duties on shoes will increase expenditures on cash receipts by $ 12 billion only for the purchase of shoes. This is a huge cost of goods that every child and every family needs, ”he wrote, recalling that the White House can independently determine the amount of taxes, without the approval of Congress. Priest pointed out that the reduction may be a temporary measure, among other things. He also welcomed the White House’s proposal to reduce payroll tax, and believes that this step will provide an additional $ 250 per month for shoe retail workers across the country, but believes that this is not enough. “We still need to find ways to reduce consumer costs in order to increase their confidence and maintain jobs in the retail business,” he said.
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