Toy prices will explode this Christmas because of Trump’s tariffs, says Hasbro CEO
Trump's tariffs will drive up toy prices in the run-up to the holidays, says Chris Cocks.
As early as this fall
Chris Cocks, CEO of American toy manufacturer Hasbro, told The Assignment podcast that the prices of his products could rise sharply as early as this fall, should Donald Trump's proposed new tariffs take effect. Such an increase would presage significantly more expensive toys for Christmas shopping.
The Trump administration
The company behind iconic brands such as Play-Doh, My Little Pony, Nerf, Transformers, Monopoly and Peppa Pig says it wants to avoid any "over-reaction" to the global economic turbulence, particularly marked in recent months by the Trump administration's decisions.
"quite significant"
Cocks says that the new tariffs announced on countries such as China and Vietnam are considered "quite significant".
New tariffs
As a reminder, the Trump administration recently imposed new tariffs on toys imported from China and Vietnam, two major suppliers to the United States. Chinese products are now taxed up to 30%, while those from Vietnam are subject to a 20% tax.
In October
Chris Cocks predicts that price rises will affect the entire industry from August onwards, with a peak expected in October, just as Christmas shopping begins.