Tariffs hike toy prices: Santa needs to shop now

Early holiday shopping may be necessary as toy prices rise. Christmas isn’t here for another six months, but Santa might need to start shopping earlier than ever. According to financial reports, the prices for dolls, stuffed animals, and games have jumped 2.2 percent. Experts attribute this increase to new trade policies and higher tariffs. Approximately 75 percent of toys are imported from China, which faces a 30 percent tax on all incoming goods. As a result, prices are expected to continue trending upward.