Jay Foreman, CEO of toy company Basic Fun!, has publicly appealed to President Trump to reduce tariffs on imported toys before Christmas. Foreman fears that the tariffs, implemented earlier this year, will significantly increase the cost of toys for American families during the holiday season. Basic Fun! manufactures and distributes well-known brands such as My Little Pony, Tonka Trucks, and Lincoln Logs.
"I'm hoping that President Trump doesn't become Scrooge and the Grinch this year," Foreman stated in a recent interview. He emphasized that the tariffs are ultimately paid by American consumers, leading to higher prices at the checkout. Foreman explained that many components used in toy manufacturing are sourced from overseas, making the industry particularly vulnerable to import duties.
The toy industry has been actively lobbying the administration to remove or reduce tariffs on toys. They argue that these tariffs not only increase costs but also threaten jobs within the American toy sector. Foreman hopes that President Trump will consider the potential impact on families and businesses and take action to alleviate the burden before the crucial Christmas shopping season begins.
Toy CEO Urges Trump to Cut Tariffs Before Christmas
The CEO of Basic Fun!, Jay Foreman, is calling on President Trump to reconsider tariffs on toys before the holiday season. Foreman argues that these tariffs are hurting American businesses and consumers. He hopes the President will act to lower costs and ensure affordable toys are available for families this Christmas. Basic Fun! produces iconic toys like My Little Pony, Tonka Trucks, and Lincoln Logs.
Source: Read the original article at CBS