OLMSTED FALLS, Ohio — The Trump Administration's tariffs on foreign imports are disrupting the toy industry.
According to the Toy Association, 77% of toys sold in the United States are made in China. The U.S. has imposed a 145% tariff on most goods imported from China.
"A $10 toy that lands in the U.S. will now be $24.50 to land, and that is all being paid by the small and medium-sized businesses," said Greg Ahearn, president and CEO of The Toy Association.
Ahearn told Good Morning Cleveland anchor Mike Brookbank that toy production in China has all but stopped, and that's putting the holiday season at risk.
"Every week that we're not producing toys in China is a week of supply that won't be available in November and December," said Ahearn. "So the longer this goes on, the fewer toys that will be available, which will create scarcity and obviously then pricing and and disappointed families and kids."
Issac Larian, the CEO of Hudson-based Little Tikes, told Brookbank the company will need to raise prices by double digits.
"Come this holiday, the prices are gonna go up 30 to 40%," said Larian.
Larian also said plans to expand the toy factory in Hudson are now on hold because of tariffs.
Meanwhile, toy stores across the country are worried about higher costs. Some businesses have filed lawsuits against President Trump in an attempt to stop tariffs on Chinese imports.
However, Dawn Reese, owner of Toys, Dolls and Minis in Olmsted Falls, told Brookbank she's prepared to take on tariffs.
"I bought most of my inventory for most of the year already before the tariffs hit so the tariffs aren't going to affect my prices too much," said Reese.
Reese also said she tries to get her toys from countries other than China.
"A lot of the miniatures are handmade locally," said Reese. "I have a lady that sews doll clothes for me locally."
Reese doesn't want her customers to feel the impact of tariffs.
"We will actually keep our prices the way they are until I have to raise them — if I have to raise them," said Reese.
