TPP could save US companies $450 million in first year - FDRA
17/12/2015
This will add up to more than $6 billion over the 12-year deal period and will result in more jobs along the supply chain as the volumes of imports increases, according to the organisation, which counts 80% of the US footwear industry as members.
FDRA president Matt Priest said: “This is a once-in-a-generation opportunity for us to cut into that $2.5 billion duty bill and that means more innovation in the supply, for mass retail it means lower prices, more footwear jobs, more product coming across our borders so ports are more active, truck drivers are more active, distribution centre workers are more active. We can’t overemphasise the impact this will have throughout the supply chain.
“Historically, Vietnam has been a country that has produced athletic shoes, but now we’re seeing a lot more movement to other types of product, so there’s mass footwear now being produced for companies such as Target and Walmart, as well as fashion and leather.
“While it can never replace China in terms of sheer volume of product, it is becoming an important part of our sourcing paradigm and the growth is really important.”
See World Footwear Jan-Feb 2016, available as an ezine now or in print next week, for more on the story.
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