The Toy Association is warning that Trump’s threatened fourth round of tariffs could “sweep up all finished toys made in China”.
In an impassioned post on the Toy Association’s website, Steve Pasierb, president & CEO, writes: “The Toy Association has been tirelessly working on your behalf since proposals for a border adjustment tax arose two years ago right through this very day as tit-for-tat rounds of China tariffs menace the U.S. toy industry. We’ve been successful going at it alongside a small group of member company representatives, but now is the time for all to take up arms. The threatened fourth tranche of Section 301 China tariffs would sweep up all finished toys made in China. Can your company absorb paying a 10 or 25 percent tariff? Can you manage if your FOB business ceases and requires you first to import and warehouse products in the U.S.?”
President Trump is meeting China’s president, Xi Jinping, on the 1st December, and there is a risk that the proposed fourth round of tariffs will be imposed should the meeting between the two world leaders fail to yield positive progress. With this in mind, Steve is urging anyone with a vested interest to throw their weight behind efforts to educate officials on the harm these tarrifs could cause to the toy industry.
Steve continues: “You must get involved. Simple action steps like sending grassroots letters that we can help draft to all your congressional representatives and sharing your individual stories of people employed, local charities supported, and your range of customers served will only continue to bolster the fight. Already these efforts have significantly raised awareness in Washington of the damaging effects to American toy companies, particularly to small and midsize members, but we need significantly more help and can’t stop now. Don’t be shy; please reach out to Rebecca Mond, vice president of federal government affairs at The Toy Association, to learn how you can push back.”
To read the full statement, and to find out more, click here.