Could Donald Trump's taste for tariffs trap Captain America, Spider-Man toys, Barbie dolls and Transformers in the trade war?
Toys are one of the largest exports to the US from China annually
Captain America may soon face his toughest enemy yet: United States trade officials.
Toymakers, major job creators in Hong Kong, China and the US, are on edge as the Trump Administration has placed tariffs of up to 25 per cent on about half of all goods shipped from China.
Spider-Man action figures, Barbie dolls and Transformers have escaped the clutches of the new levies, but could be affected if US President Donald Trump goes through with his threat of adding tariffs to all Chinese-made goods, which accounted for more than US$505 billion in exports to the US last year.
The trade war has already enveloped children’s dress-up clothing, board games and arts and craft items, with the US imposing 10 per cent tariffs from September 24. These levies could rise up to 25 per cent on January 1 if no resolution is reached.
Trade war moves to new battlefronts as US turns up heat on China
And if the US were to move forward with a 25 per cent tax on all imported toys, it would cut US$10.8 billion out of the US economy and led to the loss of 68,000 jobs in America, said Rebecca Mond, vice-president for federal government affairs at the Toy Association, a US-based trade group.
The tax could have an even greater impact in China. About 85 per cent of all toys sold in the US annually are produced in China, she said.