NEW YORK, May 14, 2019 /PRNewswire/ -- 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 – announced today that the Trump administration's proposed 25 percent tariffs on $300 billion in Chinese imports, including children's toys, 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 – particularly American small businesses," said Steve Pasierb, president & CEO of The Toy Association. "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."
As an industry that brings joy to kids through toys and play, the toy community is banding together to let President Trump know that new tariffs on toys would destroy American businesses – not to mention ruin Christmas, birthdays, and other special occasions for kids. The message to the president is clear: #DontTaxToys!
How Do Tariffs Cause Harm?
- Tariffs are taxes that are paid for by American families, businesses, workers, and communities, NOT by other countries. They are paid here, at home.
- Tariffs that have been imposed so far have caused U.S. businesses to lay off workers, raised prices for consumers, hurt American farm exports, and threatened an otherwise productive economy.
- Tariffs on toys would reach directly into the pockets of American families in the form of higher prices and reduced choice and availability.
- We understand the administration's desire hold other countries accountable, but this all-out trade war is the wrong approach.
"We support fair and free trade that protects American intellectual property, our workers, and businesses," added Pasierb. "To be clear, any claims that tariffs are or will be paid for by China is a lie. China is not paying these tariffs; rather, American families and U.S. companies are, through higher consumer prices and decreased profits. A fourth round on a range of everyday products will directly tax families even more."
The Toy Association is aggressively fighting back against tariffs on Capitol Hill and with the administration, and through the nationwide coalition, Americans for Free Trade. Learn more about how tariffs will impact parents' ability to purchase skill-building toys and games for their kids – visit www.DontTaxToys.com.
About The Toy Association www.toyassociation.org / www.thegeniusofplay.org / www.playsafe.org
Founded in 1916, The Toy Association™, Inc. is the not-for-profit trade association representing all businesses involved in creating and delivering toys and youth entertainment products for kids of all ages. The Toy Association leads the health and growth of the U.S. toy industry, which has an annual U.S. economic impact of $110.9 billion, and its 1000+ members drive the annual $28 billion U.S. domestic toy market. The Toy Association serves as the industry's voice on the developmental benefits of play, and promotes play's positive impact on childhood development to consumers and media. The organization has a long history of leadership in toy safety, having helped develop the first comprehensive toy safety standard more than 40 years ago, and remains committed to working with medical experts, government, consumers, and industry on ongoing programs to ensure safe and fun play.
As a global leader, The Toy Association produces the world-renowned North American International Toy Fair and Fall Toy Preview; advocates on behalf of members around the world; sustains the Canadian The Toy Association; acts as secretariat for the International Council of Toy Industries and International Toy Industry CEO Roundtable; and chairs the committee that reviews and revises America's widely emulated ASTM F963 toy safety standard.
SOURCE The Toy Association