Shoe Sales Plunge as Inflation Fears Over Trump Tariffs Rise, FDRA Says
Stephen Garner
Senior Editor
Shoe sales are already being affected by Trump’s new tariffs, Matt Priest, president and chief executive officer of the Footwear Distributors and Retailers of America (FDRA), said on Tuesday.
According to Priest, consumers are already pulling back spending on discretionary categories like footwear as they grow increasingly concerned about rising inflation due to new tariffs imposed by President Trump.
The executive noted that footwear sales plunged 26.2 percent the week ending Feb. 22 compared to the same retail week in 2024, according to the FDRA’s industry sales survey. The survey includes over 3,000 stores, Priest said.
“Our concerns are rooted in what we are seeing from the ground,” Priest said. “Sales declines hit every region of the country. This sharp decline isn’t just a typical business cycle fluctuation; it’s a clear indication of a shift in consumer behavior and sentiment tied to the ongoing rise in inflation, which continues to grow, alongside concerns that new tariffs will push costs even higher.”
This news comes hours before the president is set to address Congress on Tuesday night.
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“We look forward to President Trump’s joint address to Congress tonight to hear more about his vision to strengthen the economy and lower inflation,” Priest added. “However, we are deeply concerned about his decision to double emergency tariff rates and impose new tariffs on imports from Mexico and Canada. These tariffs act as taxes, driving up the costs of everyday goods like shoes, significantly burdening American families and businesses.”
Trump laid down the hammer on Mexico and Canada on Tuesday, hitting the United States’ North American neighbors with 25 percent duties on a range of products and services after a month-long deferral failed to lead to a resolution.
Eleventh-hour behind the scenes talks between the trade partners could not stop the president from moving forward with his plans to penalize the nations with new tariffs under the International Emergency Economic Powers Act (IEEPA). The duties went into effect at 12:01 am.
This new round of tariffs came after Thursday’s announcement that Trump would implement an additional 10 percent tariff on Chinese imports to the United States on top of the 10 percent tariffs imposed in February. The news sparked even more concern among an already anxious footwear industry.
“There’s going to be tons of difficult conversations with retailers and factories and brands over the coming weeks, particularly if this Tuesday threat moves forward, which we anticipate it will,” Priest said last week. “It’s just going to be a really challenging environment if you’re an importing company.”
