Toy Association Provides Members with Critical Information on How to Apply for Tariff Exclusions
October 1, 2019 | The United States’ next set of high-level trade talks with China is expected to resume as early as next week, and the results of these talks could finally offer clarity as to whether the next round of tariffs, which impact toys, will go into effect December 15.
"While each day brings both positive and negative signals from the media as to which direction the pendulum will swing, at this time, we believe we are on track for tariffs on toys to be implemented on December 15,” said Rebecca Mond, vice president of federal government affairs at The Toy Association. “As we continue to aggressively advocate against these tariffs and express the industry’s concerns, we encourage our members to remain engaged and take advantage of the available resources to prepare and fight back."
One such resource is the recently held webinar, “Tariffs on Toys: How to Apply for an Exclusion Request," attended by more than 150 members. A recording of the webinar, along with supporting materials, is now available to Toy Association members. The webinar, moderated by Mond and presented by The Toy Association’s trade counsel Laura Farhang (Farhang Legal PLLC), provides details on how to prepare to apply for an exclusion from the soon-to-be implemented tariffs on toys.
"Our goal is to prepare our members now, ahead of USTR’s opening of the exclusion process for List 4," Mond continued. "If you prepare yourself today with information and data, you will put your company in a favorable position to get your products excluded from tariffs, saving your company thousands of dollars. We encourage every Toy Association member to consider applying for exclusions, thus maximizing the toy industry’s chances of reducing tariff burdens."
Member engagement remains critical as the December 15 deadline draws closer. Members of the industry are encouraged to join the Americans for Free Trade Coalition and may contribute financially to the coalition’s efforts. The multi-industry coalition opposes tariffs and highlights the benefits of international trade to the U.S. economy. In addition, toy companies can continue to share their own stories about the detrimental impact of tariffs with the media and members of Congress. For more information and guidance on how to do so, can contact Rebecca Mond. Members of The Toy Association’s External Affairs team will also be on site at Toy Fair Dallas (October 2 to 4) to give an update on the situation and answer any additional questions members may have.
"Many small- and mid-sized members are already seeing negative effects from initial rounds of tariffs and from more unwarranted taxes looming on the horizon," said Steve Pasierb, president & chief executive of The Toy Association. "Companies are being forced to increase their pricing where possible and absorb costs, while many more will likely eat significant new taxes if mass retailers have to maintain price points at store level should the next round of 15 percent tariffs indeed take effect."
The Toy Association will continue to keep members and industry stakeholders updated as more tariff details emerge. Any additional questions may be directed to The Toy Association’s Rebecca Mond.