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New U.S.-China Trade Board Designates Toy Industry for Broad Tariff Relief
The move could lower costs for importers and retailers as tariffs still cover about 50% of toy companies, the trade board said.
- On Monday, the U.S.-China Board of Trade designated the toy industry for broad tariff relief, aiming to foster reciprocal trade relations during China President Xi Jinping's historic White House visit last week.
- This designation follows the White House's new bilateral framework intended to stabilize trade, which includes provisions to lower rates on sensitive goods under the Board's oversight.
- More than 90 percent of Chinese toy products worth roughly $30 billion will return to most-favoured-nation tariff treatment, with duties dropping below 10 percent on most items.
- Greg Ahearn, President and CEO of The Toy Association, praised the designation, calling it a "testament to our ongoing work" benefiting the toy community ahead of the holiday season.
- Belliveau, Chief Legal and Policy Officer of The Toy Association, stated the organization awaits confirmation of new rates while continuing efforts to ensure access to play's essential benefits.
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New US-China trade board designates toy industry for broad tariff relief
The Toy Association delivered a significant win with multiple toy categories identified as non-sensitive products eligible for lower tariffs. The Toy Association has welcomed a historic development for the US toy industry under the newly formed US-China Board of Trade. … Continue reading → The post New US-China trade board designates toy industry for broad tariff relief appeared first on Toy World Magazine | The business magazine with a passion …
Coverage Details
Total News Sources25
Leaning Left4Leaning Right1Center16Last UpdatedBias Distribution76% Center
Bias Distribution
- 76% of the sources are Center
76% Center
L 19%
C 76%
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