Toys could get more expensive this fall, right before the busy holiday season, due to the Trump administration's international tariffs, Hasbro CEO Chris Cocks told CNN and other outlets this week.
Cocks said the current 30% minimum tariffs on China and now 20% on Vietnam's goods are significant as the countries are Hasbro's main international suppliers. About half of Hasbro's products are made in the U.S.
Hasbro has not yet raised prices because of tariffs, noting that toys typically take three to five months to hit store shelves after a retailer orders them.
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Cocks said the company has shifted production efforts over the last few years to rely less on China for their toy products. He acknowledged there is room to expand its production in the U.S.
But he also pushed back on the Trump administration's claims that foreign countries are the ones who absorb the tariff costs, stating to CNN, “It’s always a business working with another business that absorbs things."
Founded in 1923, the Hasbro toy company is well known for products like Play-Doh, Transformers, Candy Land and Dungeons and Dragons.
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