Japan & Footwear Distributors and Retailers of America

Japan: Japan protested the 12.5% tariff, arguing it violates prior trade assurances and is based on insufficient grounds.

Footwear Distributors and Retailers of America: The FDRA reported that shoe prices have already risen 4.1% year-over-year due to tariffs and expects further increases.

Japan: Japan's economy is affected by the Iran war, with its stock market experiencing volatility and firms reporting sharp rises in input costs due to higher raw material prices.

Footwear Distributors and Retailers of America: The Footwear Distributors and Retailers of America reported that petrochemical-based materials in synthetic shoes are significantly tied to oil price swings, leading to potential price increases for consumers.

Japan: Japan is a major oil importer affected by higher prices and yen weakness, prompting intervention in currency markets.

Footwear Distributors and Retailers of America: The trade group warned of higher costs for footwear due to fuel and material prices.