The upcoming holiday season may see significant changes for American families due to President Trump's 145% tariffs on Chinese goods, which are affecting the toy industry most acutely. With 80% of toys imported from China, experts warn of rising prices and low inventory ahead of the holidays. Industry leaders like Steve Velte highlight the gravity of the situation, noting itâs unprecedented compared to past recessions. Trump has downplayed the impact, suggesting children might be satisfied with fewer toys, but the political ramifications for him could be severe as families face these disruptions.
"This is as close to a nuclear bomb as the toy industry has ever faced," Steve Velte stated, emphasizing the unprecedented challenges to supply chains and pricing.
Trump believes children can adjust their expectations, suggesting, "Maybe the children will have two dolls instead of 30 dolls," indicating a significant downplay of the situation.
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