New tariffs and what it means for toys
Tariffs and Toys
I suspect that, like myself, many of you have been pacing the floor since last Friday (10th of May) when the Trump administration decided to go ahead with their 25% tariff on goods imported from China.
Toys, which were previously at 0% tariff are now going to be hit with a 25% import tariff commencing within the next two weeks.
Whatever your politics are, the cold hard fact is that a majority of toys are produced in China. And while there is always the possibility that this tariff may lead to more companies manufacturing in the USA, that will take time - years, in fact - before it can effectively happen. Creating a home-grown infrastructure to support an $21 billion dollar industry* will not occur overnight and in the meantime the impact of this tariff is going to affect manufacturers, retailers and consumers alike.
The toy industry has already taken quite a few knocks over the last couple of year and the impact of a tariff like this on toys (and consumer products in general) is going to be a big one. At A Girl for All Time, we will carry on with our new plans for bringing you the best priced products we can through our crowdfunding campaigns - but in the meantime we are going to hope that both sides of the tariff dispute return to the table and work something out.
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*represents approximate sales of toys in the USA in 2018 according to NPD figures
Comments
Marilynn Sovero
May 17 2019
In regards to the tariffs, no one wins; not the countries, not the manufacturers, not the importers or exporters, not the people. The sadness come if these tariffs are still in place by September. Christmas may be a difficult time for all. Hopefully I am wrong.
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