South Korea & Footwear Distributors and Retailers of America

South Korea: South Korea said it will maintain close communication with the U.S. to preserve trade benefits, noting the combined duties should not exceed 15%.

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.

South Korea: South Korea's stock market experienced a significant drop, and its factory activity expanded at the fastest pace in five years, driven by firms' efforts to secure supplies amidst the Iran war.

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.

South Korea: South Korea has increased oil imports from the US and is affected by higher energy costs. Its stock market has seen declines.

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