Toy stores could go bust under Trump’s proposed international tariffs Nearly 80 percent of U.S. toys are manufactured in China, one of the countries the president-elect has threatened to target with immediate charges on imports.
Trump has said he would impose a 10 percent universal tariff on foreign imports, and last month floated the idea of an additional 60 to 100 percent tariff on goods specifically from China.
According to industry group The Toy Association, nearly 80 percent of U.S. toys are manufactured in China, one of the countries the President-elect has threatened to target with immediate charges on exports.
The price of toys may soar if Donald Trump carries through on his vow to impose exorbitant international tariffs, leading to the closure of many independent retailers.
The NRF found that the tariffs would reduce the American consumer’s spending power by up to $78 billion every year the tariffs are in place.
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