America's Toy Association opposes new tariffs on imports from China
The Toy Association in the United States issued a strongly-worded statement on Tuesday that said the Trump administration's proposal for an additional 25 percent tariff on 300 billion U.S. dollars of imports from China would "irreparably harm American families, jobs, and businesses."
"The return of a dark tariff cloud threatening the toy and retail communities would sharply increase the cost of toys and cause irreparable harm to companies of all sizes," said Steve Pasierb, the president and CEO of The Toy Association.
Star Wars figurines are displayed at the Hasbro showroom during the American International Toy Fair in New York, Tuesday, Feb. 18, 2014. [Photo: IC]
He stressed that the tariffs would lead to a rise in consumer prices and a fall in company profits, adding that the American government's tariff policies had already led to job cuts, higher prices, and pain for agricultural exporters.
"We have not relented in our fight against the threat of tariffs and will continue to push back aggressively on these damaging tactics that amount to nothing more than a tax on American families and their children and will lead to projected losses of tens of thousands of U.S. jobs," said Pasierb.
The Toy Association was founded in 1916. Headquartered in New York, it is a non-profit trade association that represents American toy, game, and youth entertainment businesses.