US toy industry pleads for tariffs exclusion<br /><br />The biggest US toy producers voiced their concerns regarding the US government's planned tariffs at the 2025 Toy Fair at New York's Javits Center on Monday, March 3.<br /><br />Mattel's president and chief commercial officer, Steve Totzke, said his company has bet on diversification to avoid additional taxation. Currently, 40% of its toys are manufactured in China.<br /><br />US President Donald Trump said on Monday that 25% tariffs on goods from Mexico and Canada will take effect from Tuesday, March 4, stoking fears of a trade war in North America. He also reaffirmed that he will increase tariffs on all Chinese imports to 20% from the previous 10% levy to punish Beijing for failing to halt shipments of fentanyl to the US.<br /><br />REUTERS VIDEO<br /><br />Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe <br /> <br />Visit our website at https://www.manilatimes.net <br /> <br />Follow us: <br />Facebook - https://tmt.ph/facebook <br />Instagram - https://tmt.ph/instagram <br />Twitter - https://tmt.ph/twitter <br />DailyMotion - https://tmt.ph/dailymotion <br /> <br />Subscribe to our Digital Edition - https://tmt.ph/digital <br /> <br />Check out our Podcasts: <br />Spotify - https://tmt.ph/spotify <br />Apple Podcasts - https://tmt.ph/applepodcasts <br />Amazon Music - https://tmt.ph/amazonmusic <br />Deezer: https://tmt.ph/deezer <br />Tune In: https://tmt.ph/tunein<br /> <br />#TheManilaTimes<br />#tmtnews<br />#toymakers<br />#toys<br />#ustariffs
