Toy prices could jump if Trump adds new tariffs in 2025, threatening some toy retailers
CBSN
President-elect Donald Trump is pledging to slap new tariffs on imports after he's inaugurated next month — a vow that's prompting the toy industry to warn about the impact.
Even if toys are designed in Europe or the U.S., they are frequently manufactured in China, a nation whose exports Trump last month threatened to target with a new 10% tariff as soon as he takes office. On the campaign trail, he floated the idea of a tariff of up to 60% on all Chinese goods. Nearly 80% of U.S. toys are manufactured in China, according to The Toy Association, an industry group.
If Trump carries through with his tariff plan, toy prices would rise "probably instantly," Jennifer Bergman, the owner of New York City's West Side Kids told CBS News. She estimates that about 90% of the toys she sells are made in China.
Authorities in Mississippi are searching for a convicted killer they say escaped from prison Tuesday who they say is "desperate."
Former Philadelphia Eagles running back Wendell Smallwood Jr. has pleaded guilty to federal fraud charges after he was accused of submitting fraudulent tax returns and applications for hundreds of thousands of dollars in COVID-19 pandemic aid programs.
Those in search of last-minute gifts or who find that they're missing a Christmas dinner ingredient may be in luck if they're located near one of the few retailers and chains that are open today. Most stores, restaurants and grocery chains are closed on Christmas Day across the U.S.
President Biden signed 50 bills into law on Christmas Eve, as the year and his time in office draw to a close.
This year, the first night of the Jewish holiday of Hanukkah will fall on the same day as Christmas for the first time since 2005.
NEW YORK - Authorities are revealing more details surrounding the killing of a woman who was set on fire while sleeping on the New York City subway.
President Biden signed 50 bills into law on Christmas Eve, as the year and his time in office draw to a close.
This year, the first night of the Jewish holiday of Hanukkah will fall on the same day as Christmas for the first time since 2005.
This year, the first night of the Jewish holiday of Hanukkah will fall on the same day as Christmas for the first time since 2005.
This year, the first night of the Jewish holiday of Hanukkah will fall on the same day as Christmas for the first time since 2005.
NEW YORK - Authorities are revealing more details surrounding the killing of a woman who was set on fire while sleeping on the New York City subway.