White House Tariffs Could Ground Santa's Gifts
Christmas isn't looking very jolly even though it's only spring.
Holiday toys are often manufactured and shipped four to five months ahead in China and the 145% tariffs are having a negative impact on production, according to The New York Times.
'We have a frozen supply chain that is putting Christmas at risk,' Greg Ahearn, chief executive of the Toy Association, told the media outlet. 'If we don't start production soon, there's a high probability of a toy shortage this holiday season.' With a possible shortage, higher prices will likely follow.
The Toy Association is asking the White House for "a 24-month reprieve" to give brands time to figure out the manufacturing process in the U.S. Toys aren't the only issue because Reuters has already reported that 87% of Christmas decorations, and per The Nature Conservatory, almost 90% of artificial Christmas trees come from China. It could be a very expensive holiday for Americans.
Playnow Toys & Games store owner Ray Vigneault suggested to Western Mass News that families who have the financial means should shop early this year.
'If your child has a certain thing that they want under the tree, you might want to get that now because it may not be around come the end of the year,' he suggested.
As a business owner, Vigneault believes it's the kids who get punished in the end when it comes to the trade war.
'Tariffs on toys. The kids are getting hurt. It's not a good situation...there will be huge shortages come Christmas," he explained. "That's totally the prediction right now. There will be some price increases, but the shortages are more worrisome."
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