U.S. Suspends Tariff Hike on $250 Billion Worth of Chinese Goods; More Needs to be Done
October 14, 2019 | The Toy Association and its members in the U.S. toy community are encouraged to learn that the United States and China have taken steps to de-escalate the ongoing trade war, which has led to tariffs on Chinese imports across a wide range of consumer products, including toys.
The administration announced Friday that it would suspend a tariff hike on $250 billion worth of Chinese goods set to take effect October 15, with China agreeing to buy up to $50 billion in U.S. farm products. There was no announcement on how the deal would impact $160 billion in tariffs on toys and other consumer products slated for effect December 15.
"A temporary truce in this trade war is certainly step forward, but until tariffs are completely repealed, American consumers, toy businesses, and millions of workers will continue to suffer," said Rebecca Mond, vice president of federal government affairs at The Toy Association. "We urge the Trump Administration to move through negotiations with China as swiftly as possible and put an end to these measures that do nothing more than hurt America’s hard-working families."
The Toy Association will continue to aggressively advocate against toy tariffs on Capitol Hill and to key members of the administration and remains an active member and leader of the Americans for Free Trade coalition. The toy industry’s education campaign about the impacts of tariffs can be found at www.Don’tTaxToys.com. In the meantime, Toy Association members are encouraged to learn how to apply for product-specific exclusions from the tariffs.
Questions on this topic may be directed to Rebecca Mond, vice president of federal government affairs at The Toy Association. Members will be kept apprised of developments as the situation unfolds.