New U.S.-China Trade Board: toy industry for broad tariff relief

The Toy Association welcomed a historic development for the U.S. toy industry under the newly formed U.S.-China Board of Trade. New details released this week show toys as the largest category of goods on the Board of Trade’s U.S. tariff relief list, accounting for approximately $9.8 billion of the $30 billion identified U.S. imports. While the final tariff adjustment has not yet been confirmed, Chinese officials indicated this could result in a most-favored nation (MFN) tariff rate on select toys and games imported from China.

Preferential tariff treatment

On September 26, the White House announced that toys are among the non-sensitive goods designated for preferential tariff treatment under the new framework, paving the way for significant tariff relief. Subsequently, Chinese officials have indicated that over 90 percent of the products covered by the Board of Trade framework could return to MFN rates. 

“The toy industry is pleased that toys have been designated as a category of non-sensitive goods under the U.S.-China Board of Trade framework. This marks a historic win for American toy companies — 96% of which are small businesses — and families, especially as we approach the holidays,” said Greg Ahearn, president & CEO of The Toy Association. “Our mission is to advocate for the global toy industry, and inclusion of toys on the Board of Trade list is a testament to our ongoing work benefiting the entire toy community.” 

As the voice of the U.S. toy industry, The Toy Association advocates for public policy that supports its members, strengthens the global toy industry, and promotes the benefits of play for children and families around the world.

Source: Press Release The Toy Association