Advertisement

The FTC opposed limiting shoe imports.

Share

However, the Federal Trade Commission did urge direct financial aid for American workers whose jobs have been affected by shoe imports. The International Trade Commission has concluded that imports have substantially injured the domestic shoe industry, and U.S. Trade Representative Clayton Yeutter must recommend a course of action to President Reagan. The FTC estimated that aid to the workers would cost about $77 million over five years. Import restrictions would cost consumers as much as $247 million in higher shoe prices and related costs and could cost the national economy as much as $950 million, the FTC said.

Advertisement