TPP ‘would save US families billions in children’s shoes’
18/08/2016
The report said that duties on children’s footwear topped $300 million for the first time in 2015. This means that they have increased 191% since 2005. It added that footwear has one of the highest duty rates of any item imported by the US, averaging 11% and reaching 67.5% on certain footwear (including children’s). Overall, $2.9 billion in duties were collected from footwear imports in 2015.
The FDRA estimated that TPP cut children’s footwear duties by $125 million in the first year after being implemented and would save $1.5 billion in just over a decade.
“As children’s footwear imports from Vietnam continue to grow, we estimate American families could save $4 billion dollars at retail on kids' shoes over the full 12-year implementation process if TPP passes Congress,” Mr Priest said.
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