The Trump Administration is Thinking About Reducing Tariffs on China: The Wall Street Journal Reports on a Catastrophic Case
The Wall Street Journal is reporting that the Trump administration is thinking about reducing tariffs on China.
The lawsuit from the small companies joins a growing list of parties fighting the tariffs in court. New York’s attorney general called the tariffs “unlawful” in a statement. The CEO of Learning Resources, a toy company that also filed a lawsuit against the Trump administration over tariffs, told CBS MoneyWatch that “this path is catastrophic.”
Princess Awesome, a clothing company, Mischief Toy Store, a toy store based in Saint Paul, Minnesota, and others are some of the things that are included in the case. The lawsuit was filed on Thursday with the US Court of International Trade.
Stonemaier Games, which has its products printed at a factory in China, has imports that are “ready to ship on which it estimates it will pay millions in tariffs pursuant to the actions challenged herein.”
It will have to pay a lot of tariffs on goods manufactured in China that it plans to import later this year and all future imports.
A Gambler’s View of the Video Game Industry: Putting a Man on a Market to a Customer’s Perils
Luis is currently playing a Manga card game called One Piece at a game shop at his local mall as a way to make friends. The man who does not currently have a job has spent several thousand dollars on sets of cards from Japan since he picked up the game. If prices rise, he said, he hopes his gaming group could strike some kind of agreement not to play with the new editions of card sets. If a box went up to more than $145, he said, he would not buy it.
People have maintained hobbies through hard times before — underemployed Americans with extra free time tinkered through the Great Depression, wove through the 1970s economic downturn, gardened through the 2008 financial crisis and weathered the sourdough-scented Covid recession.
Other gaming people seem more uncertain. Some friends of Ryan Hughes, the owner of a video game store, are getting silent on their love for the gentleman, even though he is an ardent Trump supporter. Mr. Hughes, who runs a payment software company and also runs a game store, said that in general the industry is in panic mode and that he contacts other store owners frequently. Much of the GameCube and PlayStation controllers, wires and consoles are imports from China, so they may be Tariffed steeply. The electronics exemption that the Trump administration announced this month did not include such parts.