Hey kids! Have you ever worried that there might not be enough toys for Christmas? Well, we’ve got some good news! 😃
Recently, the United States and the Chinese mainland decided to reduce some taxes called tariffs on each other’s goods. Tariffs are extra charges countries put on things they buy from each other. Sometimes, high tariffs can make things more expensive or harder to get.
Because of trade tensions, the U.S. had put tariffs on toys made in the Chinese mainland, which is where most of the toys in the U.S. come from. These tariffs were as high as 145%! That’s like having to pay almost double and a half for the same toy! 😲
But now, for 90 days, the tariffs have been reduced to 30%. That means toy makers and sellers can bring toys into the U.S. more easily, just in time for the holiday season! 🎄
Zhang Dan, who works at a company that makes Christmas toys and decorations, said that they can now send out orders that were on hold. “We’re sending out toys as fast as we can and talking to more American customers!” she said. 📦
David Mauro, who runs a small U.S. toy company called Jesusdoll.com, was really worried. “If the high tariffs stayed, we might have had to close for the year,” he said. “Now, there will be a Christmas for us and our customers.” 🎅
Even though a 30% tariff is still tough, it gives toy companies a chance to keep going. But they have to hurry because the tariff relief is only for 90 days. ⏳
Big toy companies are also feeling the pressure. Jay Foreman, the CEO of Basic Fun!, said, “At 145%, we’re out of business. At 30%, we can operate, but we’re still paying a lot more.” 🧸
Experts say that it’s not easy to make all these toys somewhere else quickly. Claire Huber from the U.S. International Trade Commission said, “Factories don’t appear overnight.” 🏭
Most toys sold in the U.S. are made in the Chinese mainland. Moving production to other places could take years. So, for now, toy makers are happy for the tariff relief. 😊
Meanwhile, toy companies in the Chinese mainland are also looking for new customers so they don’t have to rely only on the U.S. market. Some are selling more toys online to people in their own country! 🌐
Wang Zhen from Dongguan Jollybaby Products Company said they sold over 80,000 cloth books online in less than two weeks! That’s a lot of happy kids! 📚
So, thanks to the tariff changes, it looks like there’s hope for lots of toys under the tree this holiday season. Keep smiling and enjoy your toys! 🎉
Reference(s):
U.S. toy makers breathe sigh of relief after tariff reprieve
cgtn.com
