Toy prices could rise sharply if Trump imposes new tariffs in 2025

US President-elect Donald Trump's promise to impose new tariffs on imports after his inauguration may also have an impact on the toy industry.  

Even if toys are designed in Europe or the USA, they are often manufactured in China. According to The Toy Association, almost 80% of US toys are made in China. A country whose exports Trump announced he would impose new tariffs of 10% after taking office. During the election campaign, he had talked about introducing tariffs of up to 60% on all Chinese goods. 

If Trump pushes through his tariff plans, American consumers could lose up to 78 billion dollars a year in purchasing power for products such as clothing, toys, furniture, household appliances and more, according to the National Retail Federation in its findings published last month.

The toy industry is also alarmed: The Toy Industry Association called the potential tariffs “significantly harmful” and appealed to its members to contact their members of Congress to voice their concerns.

Source: https://www.cbsnews.com/news/trump-tariffs-impact-on-toy-prices-retailers/