For kids, everyday toys may be about to become a luxury — that's because tariffs are about to drive prices up.
According to the Toy Association, a leading industry group, nearly 80% of toys are made in China.
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WATCH HEREThat means American families could expect everyday toys to double to triple in price.
Small business owners are preparing for the future and advise shoppers to shop local.
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SIGN UP “‘How do I plan for this?’ That’s what’s going through my mind right now,” said Amy Rutherford, the owner of Pippin Toy Company in Alexandria, Virginia. “Prices are going to go up. We don’t know when or how or which products, and we are struggling to figure that out.”
Many small business owners are prepping ahead of the holidays, when toy prices could be too expensive for consumers.
The 145% tariff rate is only expected to grow as a tariff war escalates between China and the U.S.
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“We don’t know how much product we can bring in at a higher cost,” Rutherford said. “We don’t know what our vendors are gonna be making”
