President Trump Announces Actions against China
In a Rose Garden speech this afternoon, President Trump announced measures in response to China's actions in Hong Kong. The U.S. will begin the process of eliminating Hong Kong's special status as a separate Customs and travel territory. This would mean that the China 301 tariffs would apply to goods made in Hong Kong.

In addition, the U.S. will sanction Chinese and Hong Kong officials and issue a State Department Travel advisory to reflect the increased danger of Chinese surveillance and punishment. The announcement, however, did not impose new tariffs on China or end the U.S.-China trade deal.

During the speech, the President also blamed the Chinese government for the spread of COVID-19, stating that it covered up the coronavirus in Wuhan and pressured the World Health Organization (WHO) to mislead the world. The President said the U.S. is terminating its relationship with the WHO, since the WHO has not made requested reforms.
To discuss the latest developments on China, the coronavirus and the economic response, FDRA will hold our next coronavirus call on Tuesday, June 2nd at 2:00 p.m. EDT. This call is for FDRA Members only.
House Passes Bill on Paycheck Protection Program
This week, the House of Representatives passed legislation that would extend the timeframe borrows have to use loans under the Paycheck Protection Program (PPP) from 8 weeks to 24 weeks. It would also reduce the amount of the loan that must be spent on payroll in order to receive full forgiveness. The House passed the bill by a vote of 417 to 1, and the Senate is working on its own bill to provide flexibility to the program.
Past FDRA Coronavirus Call Recordings
FDRA Members that missed this week's coronavirus call or past coronavirus calls, can visit the FDRA Intel Center for the recordings (You need to register and create a password to access ).
FDRA Digital Professional Development Center
FDRA has launched a new digital site designed to help those in the footwear industry continue to learn and maintain their knowledge and skills during the coronavirus crisis. This site features insights and training via videos, podcasts, articles, documents, memos, and more. View the site: