Toy Association’s Mond Moderates Town Hall Meeting on Tariffs Impact
October 16, 2018 | As part of ongoing advocacy efforts against tariffs on Chinese imports, Toy Association staff moderated a town hall meeting last week that discussed the damaging costs tariffs have and will continue to place on American businesses and consumers. The panel discussion, which took place on October 11 in Philadelphia, PA, included a Toy Association member company and other impacted local businesses.
The Town Hall meeting was part of the Americans for Free Trade coalition grassroots campaign, Tariffs Hurt the Heartland, in conjunction with Farmers for Free Trade coalition. The Toy Association is a part of the Americans for Free Trade coalition.
Michael Araten, president and CEO of Sterling Drive Ventures and former CEO of K’NEX was a panelist at the event. "The good news is that [the tariff increase] won't be happening this season," he said, however, next year prices may be 10 to 20 percent higher. “A $20 toy will cost $30. The [President’s] tax credits were great … but the tariffs will take all those gains away from the consumer."
During the town hall meeting, Tariffs Hurt the Heartland unveiled new data, compiled by The Trade Partnership, about the costs of tariffs across the country.
Nationally, the data found that, the amount of tariffs paid increased by $1.4 billion—or 45 percent—as compared to tariffs paid in August 2018 (the most recent month of data available) versus August 2017. Costs will continue to increase as the section 301 tariffs become implemented.
“China is not paying for these tariffs. These taxes are being paid by American businesses, farmers, and families,” said Rebecca Mond, vice president of federal government affairs at The Toy Association, and the panel’s moderator. “Not only will the taxes negatively impact jobs and put companies out of business, they will hurt families as the prices rise on just about everything the buy from the toys their kids play with to the food they put on the table.”
The Toy Association continues to strongly oppose tariffs, advocating to the U.S. Trade Representative (USTR) and on Capitol Hill to ensure officials understand the profoundly negative impact of tariffs on American companies and jobs.
Toy companies are encouraged to join advocacy efforts by:
Members are encouraged to get in touch with Rebecca Mond for more information on this developing issue.