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FDRA Expresses Disappointment With US TPP Withdrawal

President Trump signed an executive order Monday withdrawing the United States’ signature from the Trans-Pacific Partnership (TPP) agreement.

The decision sparked an outrage in the footwear industry, including a passionate statement by Footwear Distributors and Retailers of America CEO Matt Priest.

“While not a surprise, we are extremely disappointed that the U.S. has withdrawn from the Trans-Pacific Partnership because of the significant lost opportunity for American footwear consumers and businesses,” Priest said in a statement. “This 12-nation agreement involved key markets for the U.S. footwear industry, including Vietnam and Japan, and would have saved U.S. footwear companies and consumers more than half a billion dollars a year. FDRA will continue to support efforts for U.S. bilateral free trade agreements with these nations, and we stand ready to work with the President on trade agreements that will deliver real value for American footwear consumers and strengthen U.S. footwear companies.”