Earlier today, the US government decided to delay the imposition of tariffs on Chinese made toys which were supposed to go into effect on September 1st by pushing back the date to December 15th. A reprieve of sorts, manufacturers, distributors and retailers will therefore not feel the sting of an added 10% price hike, which could have had a serious impact on sales this coming holiday season. The industry and consumers were saved by the bell until both sides can come to a mutually beneficial trade agreement.
The Toy Industry had this to say about the postponement: “The Toy Association – the not-for-profit trade association representing the toy, game, and youth entertainment product businesses that drive the annual $28 billion American toy market and are leaders around the world – lauded the Trump administration’s decision to delay imposing a 10 percent tariff on most toys as a welcome reprieve for the toy industry going into the holiday season.”