FDRA President Says No Response Yet From Trump on Plea to Drop Tariffs

The video discusses the impact of tariffs on the US footwear industry, highlighting the potential increase in costs for American consumers due to duties on Chinese imports. Matt Priest, President and CEO of the Footwear Distributors and Retailers of America, explains the industry's historical duty payments and the current challenges posed by proposed tariffs. The discussion covers the potential impact on retailers like Macy's and JCPenney, the difficulty of shifting supply chains from China to countries like Vietnam, and the broader economic implications, including possible product shortages and price increases during key retail seasons.

Who is Matt Priest and what organization does he represent?

• President of the US Retailers Association

• CEO of the Footwear Distributors and Retailers of America Trade Association

• Director of the US Trade and Commerce Department

• Head of the American Consumer Protection Agency

What is the main concern of retailers like Macy's and JCPenney regarding the tariffs?

• Increased competition from Chinese brands

• Potential damage to their bottom line

• Lack of consumer interest in their products

• Increased labor costs in the US

What percentage of US footwear was made in China a decade ago?

• 80%

• 50%

• 93%

• 69%

What is one of the challenges mentioned in shifting supply chains from China to Vietnam?

• Lack of skilled labor in Vietnam

• Increased tariffs in Vietnam

• High transportation costs

• Difficulty in making quick changes

What potential issue might consumers face during the holiday season due to tariffs?

• Shorter shopping hours

• Decreased quality of products

• Limited product availability

• Increased advertising costs