SlateStone Wealth chief market strategist Kenny Polcari and Verdence Capital Advisor CEO Leo Kelly weigh in on President Donald Trump’s tariff plan and its influence on the financial system.
Some U.S. toymaking corporations are experiencing a lift and growing home manufacturing amid President Donald Trump’s import tariffs.
FOX Enterprise’ Lauren Simonetti reported Tuesday that Ohio-based Simplay3 was “hiring 10% more workers and running this operation 24/7” to make its merchandise.
The corporate produces slides, playhouses, play tables and a slew of different kids’s toys utilizing a “rotational molding” course of at its facility in northeastern Ohio, per its web site.
FOX Enterprise’ Lauren Simonetti stories on the a number of methods American toymakers are benefiting from President Donald Trump’s tariffs.
Making toys in America has helped Simplay3 maintain its costs down amid the Trump administration’s tariff efforts, Simonetti reported.
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Simplay3 E-commerce Director Matthew Murdough instructed FOX Enterprise the American client “benefits because they’re not going to see an additional $15 tacked on to a $100 item.”
“Our prices are going to remain the same,” he stated.
“We consciously made an effort, as a small company we can do this, we can make a conscious effort to start designing products that are under $100, that are $79, that are $49, and now we see that we get the sales back up through volume, not necessarily through the price, but that’s what the consumer is looking for right now,” John Hradisky, the corporate’s product growth vp, additionally stated.
One other firm, Cra-Z-Artwork, introduced final week it deliberate to ramp up its toy-making in America by growing its U.S. manufacturing house by 50% to “combat the cost of tariffs for imported goods from China and other countries.”
That transfer will raise the toy, artwork and college provides maker’s home manufacturing house to 1.5 million sq. ft from its present 1 million-plus sq. ft, based on Cra-Z-Artwork. Its U.S. factories are situated in Lewisburg, Tennessee, and Jacksonville, Florida.
“Based on the current economic climate, we are taking decisive action to expand and invest in American manufacturing,” Cra-Z-Artwork Chairman Lawrence Rosen stated in a press release. “We are fortunate to have the infrastructure and capabilities in place to rapidly increase toy and school supply production as well as manufacturing space right here in the USA.”
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He stated the enlargement will “greatly benefit our retail partners by allowing us to get products to market quicker and more cost effectively” and convey financial savings to shoppers.
The Trump administration positioned a brand new tariff on imports from China in early March, bringing the levy on items coming into the U.S. from the nation to twenty%.
President Donald Trump walks throughout the South Garden to board Marine One on the White Home on March 7, 2025. (Kayla Bartkowski/Getty Photographs / Getty Photographs)
Canada and Mexico had been additionally hit with 25% tariffs at the moment, however Trump later launched exemptions for these two international locations on items beneath the United States-Mexico-Canada Settlement till early April.
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China-made toys account for nearly 80% of toys bought within the U.S., the Related Press reported, citing figures from The Toy Affiliation.
Toy Affiliation CEO Greg Ahearn has stated the tariffs might result in larger toy costs for American shoppers later within the yr, based on the outlet.
China-made toys account for nearly 80% of toys bought within the U.S., the Related Press reported. (iStock / iStock)
The U.S. toy commerce affiliation and others from around the globe have referred to as for toys to “be excluded from all tariffs as the U.S. and its trading partners work to renegotiate better trade deals,” per a Toy Affiliation press launch.
