Toy Fair 2023: Dealing with Tariffs and Price Increases in the Toy Industry.
Reading
Toy makers, sellers, and buyers met in New York for a big toy show. They were worried about how new taxes on Chinese toys would affect prices.
Most toys sold in the US are made in China. Toy makers are trying to find ways to keep prices low, but it's hard.
The new taxes could make toys 15% to 20% more expensive. This is a problem because most toys are already priced between $5 and $20.
The president also talked about taxing toys from Mexico and Canada, but then changed his mind. All these changes make it hard for toy companies to plan for the future.
Some toy companies are trying to make toys in the US instead of China. Others are trying to make their toys simpler or change them slightly to save money.
Questions
Where did toy makers, sellers, and buyers meet?
They met in New York for a big toy show.
What is the concern about new taxes on Chinese toys?
They are worried that the new taxes will make toy prices higher.
What are some toy companies doing to keep prices low?
Some are trying to make toys in the US, while others are making their toys simpler or changing them slightly.
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