As of February 4, 2025, the United States has imposed an additional 10% ad - valorem tariff on all goods of Chinese and Hong Kong, China origin entering the U.S. for consumption or withdrawal from warehouses. For goods that have already been subject to a 25% tariff, the tariff will increase to 35%. The U.S. toy industry with an annual retail sales of over 28 billion U.S. dollars is scrambling to cope with the extra tariffs imposed on goods imported from China.
As nearly 80% of toys sold in the U.S. are made in China, the additional tariffs on Chinese - origin goods will directly increase the import costs for toy manufacturers and importers. Plastic injection mold manufacturer - SOMETOL export also affected by this tariff.
Many toy companies are moving their production lines out of China to avoid tariffs, like Mattel and Spin Master are reducing their production in China and increasing it in Southeast Asia and Mexico. If the original suppliers are in the tariff - affected areas, companies need to look for alternative sources, which may affect the quality and supply stability of raw materials. If you need plastic injection mold, please contact SOMETOOL, we can supply one-stop mold solution.