Spielwarenmesse: Retail imports surge ahead of new tariffs

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Retail imports surge ahead of new tariffs

11. September 2019 11:00 h

Toymakers can apply for exclusion

By toybook.com

According to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates, retail imports at the nation’s major container ports surged to “unusually high numbers” just before the latest wave of tariffs hit goods from China beginning Sept. 1. While toys were not included in this wave, the next 15% tariff goes into effect on Dec. 15 and is expected to cover nearly all toys. The NRF expects another surge to precede the next tax.

Retailers are still trying to minimize the impact of the trade war on consumers by bringing in as much merchandise as they can before each new round of tariffs takes effect and drives up prices,” says Jonathan Gold, NRF VP for supply chain and customs policy. “That’s the same pattern we’ve seen over the past year, but we’re very quickly going to be at the point where virtually all consumer goods will be subject to these taxes on American families. The upcoming October talks with China are an opportunity to put a stop to this escalation, repeal the tariffs that have been imposed and focus on growing the economy.”

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