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For anyone who buys toys this Christmas [View all]
https://apnews.com/article/trump-tariffs-liberation-day-2a031b3c16120a5672a6ddd01da09933Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars
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Basic Fun CEO Jay Foreman, whose company is behind such classic toys as Tonka trucks, Lincoln Logs and Care Bears, has been working hard to come up with new ways to cut tariff-related costs like reduce packaging and eliminate batteries with the products.
But Trump’s announcement that he plans a 34% increase in tariffs on Chinese imports has solidified his decision to hike prices. Most of the company’s toys are made in China. He said the Tonka Mighty Dump Truck will go from $29.99 to $39.99 this holiday season, possibly even $45.
“There is no other way,” he said.
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