New tariffs could lead to a staggering 50% increase in toy prices. The United States has imposed a 54% tariff on goods from China and a 46% tariff on products from Vietnam. These countries are crucial for the U.S. toy industry, with 77% of toys imported from China and Vietnam ranking third behind Mexico. The tariffs on goods from Mexico stand at 25% for non-compliant products under the United States-Mexico-Canada Agreement. Additionally, tariffs have been set at 46% for Vietnam, 32% for Indonesia, and 26% for India. Major toy companies like Hasbro and Mattel had anticipated a 20% tariff impact from China in their 2025 projections and planned to shift production to other countries. However, these new tariffs may make relocating production financially unviable. The stock market has reacted sharply, with Mattel shares dropping over 16.5%, Hasbro losing more than 12%, and Funko’s stock plummeting 18%. Toy companies are expected to pass these increased costs onto consumers, with price hikes potentially aligning with the back-to-school season.
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