New trade agreement takes aim at shoe tariffs

• The Footwear Distributors and Retailers of America says tariffs on footwear rose 6.6% to $2.671B last year.
• The pace exceeds sales growth in the sector.
• Countries included the Trans-Pacific Partnership (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam) increased duties last year by 24% Y/Y.
• Analysts have noted that a good portion of the tariff tax has hit the bottom line of shoe companies with pricing still very competitive.
• The footwear trade group is pushing Congress to give President Obama Trade Promotion Authority to help bring tariff relief.
• Shoe stocks: CROX, DECK, WWW, SHOO, SKX, SCVL, BWS, FL, FINL, NKE.