© Reuters. Kids’ Shoe Prices Hit 70-Year High as Group Seeks Biden’s Help
(Bloomberg) — A footwear trade group asked President Joe Biden to address what it called a 70-year high in the prices of shoes made for kids.
The Footwear Distributors and Retailers of America, which represents almost 500 companies, said in a letter on Tuesday that supply-chain disruptions have only added to rising costs in the industry. The main culprit is tariffs on shoes made in foreign markets that can hit nearly 70%, the group said.
“Poor and working-class families are paying skyrocketing cost increases on kids’ shoes,” it said in the letter to Biden. “Kids’ shoes are hit with one of the highest tariff rates of any product.”
Most shoes imported into the U.S. are made in China or Vietnam, which are both experiencing disruptions in the supply chain.
The letter didn’t give specific examples of prices.
The Biden administration didn’t immediately respond to a request for comment.
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