LAS VEGAS, Nev. (FOX5) – As the US-China trade war continues, many toy stores are pausing orders and paying higher prices due to the 145% tariff on imports.
Peter Chen, who owns 888 Collectibles in Chinatown, says the past few weeks have been stressful.
“We work with dozens of suppliers and have to be very strategic on what to order now, for example, last night I did some ordering and a lot of stuff that I usually order I have to pause because it just doesn’t make any sense to order it because prices are too high,” Chen said.
Most of his toys come from China, and he’s not alone. According to the Toy Association, nearly 80% of toys coming into to the U.S. are from China, followed by Mexico and Vietnam.
Chen says he’s had to spend $20,000 more for product because of the tariffs.
“It is gradual right now, so some products are already seeing price increases in toys,” he said. “We specialize in Japanese pop culture and even though a lot of it is Japanese products, a lot of them are made in China, and they are very expensive now to order.”
The Toy Association has said if tariffs continue there will also be an impact later this year.
“April, May, June, July those are the major production months for all of the toys that are under the Christmas tree during the holiday season,” Greg Ahearn, president and CEO of The Toy Association said. “Production in China has absolutely stopped it is frozen right now.”
And costs will increase.
“The toys that people find on the shelves will probably be twice the price if not more of what the same exact item was last year, but there will also be a significant scarcity of toys,” he said.
For now, Chen says his customers have been understanding.
“It can only go on for so long, we hope there is a solution soon, it is not sustainable,” he said.
The Toy Association says it’s working with the Trump Administration to get a tariff free policy for the industry.
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