Trump Announces 5% Tariff Increase; Toy Association Continues to Fight Back
August 23, 2019 | President Trump tweeted on Friday afternoon that he plans to raise all U.S. tariffs on Chinese imports by 5 percent. Toys and other products on the upcoming list of goods to be taxed as of December 15 will now be subject to a 15 percent tariff, instead of the originally proposed 10 percent tariff.
According to the U.S. Trade Representative (USTR), a federal register notice will be issued soon with a notice and comment period; The Toy Association plans to submit comments. The president also tweeted a directive to U.S. companies to manufacture outside of China; however, it is unclear whether the administration has the authority to act on that demand.
“These increasing taxes on children’s toys will be paid for by America’s small businesses, the retail community, and families,” said Steve Pasierb, president & CEO of The Toy Association. “Over the past decade our industry’s manufacturing partners in China have delivered quality products that meet and exceed America’s world-leading safety and regulatory regimen. Any significant move elsewhere will take many years. Meanwhile, The Toy Association is steadfast in its fight against tariffs and continues to advocate for sensible solutions that address the very real trade, intellectual property, and business issues our nation has with China.”
The Toy Association continues to aggressively advocate against toy tariffs on Capitol Hill and to key members of the administration, and is 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 DontTaxToys.com.
Members will be kept apprised of developments on this issue; in the meantime, questions may be directed to The Toy Association’s Rebecca Mond, vice president of federal government affairs.