Hasbro: Tariffs could not come at a worse time for toy industry


Hasbro (HAS), the company behind iconic toys and games like Monopoly and Play-Doh, says new tariffs could drive up the cost of toys, devastate the industry and lead to safety risks.

The toymaker is one of hundreds of companies that have been testifying in Washington over the past week, asking the Trump administration to spare them from the next round of tariffs.

Hasbro’s Chief Operating Officer, John Frascotti, is set to testify on Monday.

In comments submitted ahead of the testimony, the company told United States Trade Representative Robert Lighthizer that 85% of all toys sold in the U.S. are imported from China.

Read the full story at Yahoo Finance

Thanks to forum user Tycho for pointing out the article.