Potential tariffs of 25% could be extended to incorporate toy imports from China.
The Toy Association is closely monitoring recent news that President Trump will potentially increase the duty rate to 25% on $200bn worth of Chinese imports already subject to 10% tariffs. Additionally, the Office of the US Trade Representative may propose a new 25% tariff on the remaining Chinese imports not yet subject to additional tariffs. Toys, not yet subject to tariffs in the ongoing US-China trade dispute, could be added to this so-called “fourth list.”
“The return of a dark tariff cloud threatening the toy and retail communities would sharply increase the cost of toys and cause irreparable harm to companies of all sizes – particularly American small businesses,” commented Steve Pasierb, president & CEO of The Toy Association. “We have not relented in our fight against the threat of tariffs and will continue to push back on these damaging tactics that amount to nothing more than a tax on American families and their children, and will lead to projected losses of tens of thousands of U.S. jobs. To be clear, China is not paying a penny of tariffs; rather, US companies and American families are, through decreased profits and higher consumer prices.”
The Toy Association has remained actively engaged on this front through the Americans for Free Trade Coalition and will keep members informed as the issue develops.