The Trump administration has halted its plans to impose tariffs on $300 billion worth of List Four goods, which would have included a 25 per cent tariff on some tabletop games, toys and video games.
The suspension of the planned $300 billion worth of additional tariffs on selected goods from China comes as a relief for those in the sector who actively rallied against the threat of monumental price hikes on the goods.
Among those who campaigned against the threatened List Four round of tariffs was The Toy Association’s president and chairman, Steve Pasierb, who vocally called the plans a ‘tax on families,’ and one that would ‘only damage small or independent companies working in the toy space.’
The tariffs were designed to escalate President Trump’s ongoing trade war with China, however, following his latest meeting with the Chinese President Xi Jinping over the weekend, he decided to postpone.
Both parties have agreed to talk further, but a date has not yet been set.