Isaac Larian, CEO of MGA Entertainment, has paused plans to expand his Ohio toy factory amid rising tariffs, which threaten job stability for his 2,200 employees and could lead to layoffs. With 80% of U.S. toy imports from China, the toy industry is significantly impacted by the ongoing trade war, as recent tariff hikes could lead to increased consumer prices and potential bankruptcies among small businesses. Experts warn the true effects will be felt during the back-to-school season, with concerns over affordability for families. Larian emphasizes the importance of toys in children’s lives amid these economic pressures.

Source: https://www.supplychaindive.com/news/toy-retail-industry-small-businesses-face-devastating-china-tariff-impact/747104/