SOUTH JORDAN, Utah (ABC4 News) – The owners of Red Balloon Toy store focus on toys that help kids learn.
“That’s what our whole mission is,” said David Castillo, with Red Balloon.
But lately, being in the toy business has prompted serious concern — as tariffs proposed by President Trump could affect consumer goods like cell phones and toys.
On September 1, the U.S. will start putting an additional tariff of 10% on the remaining $300 billion of goods and products coming from China into our country. This does not include the $250 billion already tariffed at 25%.
“It’s the kids that are really going to be affected by it,” said Castillo.
President Trump has announced a Sept. 1 deadline that could make Chinese consumer imports more expensive for American consumers.
The tariff — a 10 percent on consumer goods imported from China — could force retailers to raise their prices, too.
“A lot of our manufacturers are still deciding if they’re going to absorb the costs, or if they’re going to pass the tariffs onto us, the retailer,” said Castillo.
“To have something out of our control come and say okay, we’re going to make it harder for you to earn a profit. Is really scary.”
WHAT OTHERS ARE CLICKING ON:
- California lawmakers hope to give voice to protestors’ concerns while condemning violence, looting
- FEMA head urges hurricane prep in midst of coronavirus pandemic
- Pres. Trump delivers remarks as protests grow across the country
- US lawmakers split on President Trump’s claim to declare Antifa a terrorist organization
- House Republicans’ lawsuit seeks to stop proxy voting by members