Major Toy Company CEO Says 80% of Toys Will Be Twice as Expensive by Christmas Due to Tariffs
Many toys and possible children's gifts are on track to cost almost double by the winter holidays, a major toy manufacturer claims. Basic Fun! CEO Jay Foreman appeared on the Today show to discuss what may be the lasting impact of President Donald Trump's aggressive global tariffs plan. Though the president paused almost all of his "reciprocal tariffs" from April 2, he has remained steadfast on one — China, which now incurs a 125% tariff on imports, and which has long been the primary source of children's toys in the United States.
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