UPDATE: Trump Renews Tariff Threat, Possible 25 Percent Tariffs on Toy Imports from China
May 7, 2019 | The Toy Association is closely monitoring recent news that, on Friday, President Trump will increase the duty rate to 25 percent on $200 billion worth of Chinese imports already subject to 10 percent tariffs. Additionally, as early as today, the Office of the U.S. Trade Representative (USTR) may propose a new 25 percent tariff on the remaining Chinese imports not yet subject to additional tariffs. Toys, not yet subject to tariffs in the ongoing U.S.-China trade dispute, could be on 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,” said 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, U.S. 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 apprised as the issue develops.
The Association is also collecting feedback from toy companies to determine the impact that tariffs would have on their businesses; this input will help The Toy Association strengthen its advocacy and media efforts on this critical issue. Contact Rebecca Mond, vice president of federal government affairs, to share your story.