According to NPR, tariffs were the primary topic at a toy vendor trade show last month in Orlando.
“All anybody was talking about was tariffs,” Jay Foreman, CEO of the Florida-based toy company Basic Fun!, told NPR.
Trump has promised a 60% tariff on goods imported from China, where most toys sold in the U.S. are made.
“You’re going to see a $30 Tonka Mighty Dump Truck become a $45 Tonka Mighty Dump Truck,” Foreman told NPR.
“This is something that will impact the entire toy industry,” Mattel CEO Ynon Kreiz told investors during an earnings call.
In the United States, the majority of toys sold ranged from the newest Marvel movie figurines to smiling plastic bulldozers. S. come with a “Made in China” label and an air of whimsy.
The latter clarifies why toy manufacturers and retailers throughout the U.S. S. are in a panic as the next Trump administration approaches. At a toy vendor trade show last month in Orlando, tariffs were the main topic of conversation, according to NPR.
Jay Foreman, the CEO of the Florida-based toy company Basic Fun!, told NPR that “tariffs were the only topic anyone was discussing.”. We are aware that consumers will be impacted if tariffs are implemented because prices will rise. As a result, our industry is in complete panic. “,”.
The majority of toys sold in the United States are imported from China, where Trump has pledged a 60% tariff on goods. S. are produced. Toy manufacturers are then faced with two costly options: either absorb a portion of the tariff costs or switch to domestic manufacturing.
In any case, consumers are anticipated to bear the majority of that additional expense.
“A $30 Tonka Mighty Dump Truck will turn into a $45 Tonka Mighty Dump Truck,” Foreman told NPR. “The cost of a lot of items that people purchase from stores like Walmart, Target, and Amazon will increase. “,”.
Taxes placed on imported goods, or tariffs, have become Trump’s main economic talking point. He claims that they will bring manufacturing back to the United States. S.
2018 saw two rounds of tariffs as part of Trump’s trade war with China, which had an impact on the toy industry. According to Business Insider, a third posed a threat to completed toys.
The second-biggest toy company in the United States, Mattel, is one of the anxious companies. A. behind Hasbro. .
Ynon Kreiz, the CEO of Mattel, informed investors during an earnings call that “this is something that will impact the entire toy industry.”.
