The Toy Association™ is closely monitoring major global trade and tariff developments that may affect toy industry operations and costs:

U.S.–China Developments
Ongoing talks between the U.S. and China may soon result in a potential trade framework addressing key issues such as rare earth exports, reciprocal tariffs, fentanyl cooperation, and agricultural purchases. While China has agreed to delay its rare earth export restrictions and increase cooperation on fentanyl precursor chemicals, several sensitive topics — including Taiwan — remain unresolved ahead of an anticipated meeting between Presidents Trump and Xi on Thursday, October 30.

In addition, on October 24, the Office of the U.S. Trade Representative (USTR) launched a new Section 301 investigation into China’s compliance with the 2019 “Phase One Agreement.” The investigation will examine whether China’s actions restrict U.S. commerce. USTR has opened public comments on the issue through December 1 and will hold a public hearing on December 16. Results of the investigation could potentially impact the U.S.-China trade relationship and lead to further tariff measures.

Southeast Asia Trade Activity
Across Southeast Asia, the U.S. announced new agreements with Malaysia and Cambodia and frameworks with Thailand and Vietnam, signaling renewed engagement in the region. These developments mark renewed U.S. attention to Southeast Asia and signal possible additional tariff activity in the coming weeks.

Other Key Developments

• The U.S.–Canada trade relationship has also drawn attention following President Trump’s October 24 announcement that all negotiations with Canada were terminated after over a political ad that ran in the country. The president also wrote that he would impose an additional 10% tariff on Canadian exports.
• The U.S. Supreme Court recently extended oral-argument time for the tariff cases scheduled for November 5, which will examine the president’s authority to impose tariffs.

The Toy Association is closely monitoring global trade actions, including any official policy developments, and will continue to update members as new information becomes available. Questions may be directed to Maria Sierra, vice president of government affairs at The Toy Association.