Xinhua Headlines: More fun toys, no painful tariffs: American toymakers hopeful on U.S.-China trade deal

Source: Xinhua| 2019-02-26 16:43:50|Editor: Yamei
Video PlayerClose

Xinhua headlines: More fun toys, no painful tariffs: American toymakers hopeful on U.S.-China trade deal

Visitors look at stuffed toys at the booth of Ty Inc. during the 116th Annual North American International Toy Fair at the Jacob K. Javits Convention Center in New York, the United States, on Feb. 19, 2019. (Xinhua/Wang Ying)

by Xinhua writers Yang Shilong, Luo Jingjing, Liu Yanan

NEW YORK, Feb. 26 (Xinhua) -- Bob Grubba sounded much happier and much relieved about his business prospects on Monday, a day after the latest round of U.S.-China trade talks yielded "substantial progress."

The founder and CEO of Choo Choo Shoes, a manufacturer for fun kids' shoes that make train sounds, made a throat-slitting gesture to himself when asked by Xinhua at last week's New York Toy Fair what would happen to his business if the next tranche of tariffs is to be imposed on goods imported from China.

"(The) progress is good. It's good for us. It's good for our suppliers. And I imagine it's good for everybody else in the industry, both in China and in the U.S.," Grubba told Xinhua via phone from his office at Ormond Beach, Florida.

"TO PUT TRADE TENSIONS BEHIND US"

After months of escalating trade frictions with the United States slapping massive extra tariffs on Chinese imports and China responding with retaliatory measures, Chinese President Xi Jinping and his U.S. counterpart Donald Trump agreed in Argentina in December that the two countries should strive not to impose additional tariffs before reaching a mutually beneficial agreement at an early date.

As part of their efforts in implementing the important consensus reached by the two leaders, Chinese and U.S. negotiators wrapped up the latest round of trade talks with substantial progress on specific issues on Sunday in Washington.

Trump later tweeted that he "will be delaying" the increase of tariffs on Chinese imports scheduled for March 1, citing "very productive" trade talks between the two teams.

"I'm glad to see the progress ... we can put the trade tensions behind us. And people from both countries can go on doing business and making money without (extra) tariffs," Grubba said.

Imposing more tariffs on China would cripple the business of small U.S. toy companies including Choo Choo Shoes that have made many success stories with their Chinese partners during the past decades, he said.

According to him, most of these companies have a profit margin in the range of 30 percent. If they were to pay a 25-percent tariff, it would only leave approximately 5 percent left to pay rent, insurance and other bills. "It's not enough," he lamented.

The Toy Association, a national trade association representing U.S. toy industry, welcomed the positive results of the bilateral trade talks on Monday.

"We are hopeful that a long-term trade deal is reached ... (and) removes tariffs which are costing U.S. businesses and consumers every day," Rebecca Mond, vice president of federal government affairs for the association, told Xinhua.

The industry group has more than 1,000 members, with 95 percent of whom are small businesses.

Josh Selig, president of Little Airplane Productions (LAP), also echoed Grubba and Mond's upbeat mood. "I believe we'll all be celebrating very soon in the U.S. and in China!" said the New York City-based award-winning TV producer.

LAP, which has been very active in China in recent years, made history in 2015 when Disney Junior U.S. acquired P. King Duckling, a series that LAP created and produced with China's UYoung Media. The deal was Disney's first ever acquisition of a Chinese animated series.

HARD TO MOVE BUSINESS OUT OF CHINA

Though toys have largely not been included in the tariff lists issued to date, many U.S. toy companies have been impacted by the tariffs that are currently in place, Mond said.

"They're really hurting small businesses across the country," she said, adding the tariffs on silicone, aluminum, dyes and other toys inputs have already increased costs of local toymakers.

The tariffs are "not the tool to be used" in tackling the disputes with China, a critical partner for the U.S. toy industry that supports about 700,000 U.S. jobs, she said.

U.S. market size for the total toy industry is approximately 28 billion U.S. dollars, according to the Toy Association.

While about 85 percent of American-sold toys are manufactured in China, 80 percent of the purchase price of the average toy remains in the United States because toymakers do research, development, design, and testing in America.

The idea to relocate production out of China is also unrealistic, Mond said. It is hard for toy industry businesses to find another country with comparable infrastructure, skilled workers, as well as the research and development capabilities.

Reyne Rice, a toy industry expert in New York City, couldn't agree more.

"China has been a crucial part of global toy supply chain for over a decade. Chinese toy producers are also doing better jobs in toy innovation and design, with their comprehensive global competitiveness advancing," Rice said.

Statistics show that China exported 44.15 billion U.S. dollars of toys in 2017, accounting for over 70 percent of total toys for sale in the world.

"It's difficult to move a factory (out of China) because our product is very specialized. It took us a long time to train the workers at the factories and train the engineers and get the quality the way it's supposed to be," Grubba said.

He also downplayed the option of a price hike. "If we were to increase the price, try to pass that cost onto our customers, I don't think they would pay it. I think we would sell less."

"First and foremost, trade wars never work, and everybody ends up a loser in a trade war," Mond said.

NO COMPANY CAN AFFORD TO LOSE CHINESE MARKET

After all, none of the U.S. toymakers, large or small, can afford not to be in China that is in most areas, either the world's largest market, or will become the world's largest market, industry insiders said.

"Certainly China has a great market opportunity, and it's largely untapped by U.S. companies. So certainly we hope to have greater market access and greater opportunities to sell over in China," said Mond.

China's improving economic structure, accompanied with its strong consumer spending power, unleashes huge potential for economic growth. With China's GDP reaching over 90 trillion yuan (about 13.28 trillion dollars) in 2018, consumption contributed more than 76 percent to the growth.

As the second largest toy market in the world, China has 236 million kids aged zero to 14 and 76 percent of Chinese urban population is expected to become middle class by 2022 with higher disposable income and expense, McConnell said.

For Selig, there is a natural synergy between Chinese and U.S. creators working together on global IP. "So to me, it's a win-win if we work together; if we separate, both sides lose," he said.

The establishment of Alpha Group US in 2016 is an effort of the leading Chinese animation and toy conglomerate to fully develop the American market.

"We have excellent operating and engineering teams with deep knowledge and rich experience in China, and we combine these with new ideas of marketing and design to exploit both markets," said Glenn Yu, design director of Alpha Group US.

Ty, the world's largest producer of stuffed plush toys, officially stepped into the Chinese market in late-2017 and sold some 2.5 million stuffed plush toys last year.

"We can see that China's business environment has become more favorable for foreign brands, and they are having more confidence as well," said Maggie Qiu, general manager of Deyi, the sole distributor of Ty in China.

(Video editor: Liu Yuting)

   1 2 3 4 5 6 7 8 9 10 Next   >>|

KEY WORDS:
EXPLORE XINHUANET
010020070750000000000000011103261378520041
三分快3 大发app 凤凰彩票app 乐发iv游戏平台 凤凰彩票大厅 乐发彩票 乐发彩票app下载 大发彩票 乐发v官网 乐发lll 乐发lv入口 乐发iv首页 乐发ll登录 凤凰彩票大厅 乐发官网 乐发ii下载入口 乐发ll 乐发v平台 乐发v官网 乐发lll 乐发lv入口 乐发iv首页 乐发ll登录 乐发lv 乐发lll安装 乐发lv 乐发登录入口 乐发iv游戏平台 凤凰彩票登录 网信彩票 彩神 彩神彩票官方网站 彩神彩票官网首页 彩神官方app下载安卓版 凤凰彩票登录 彩神v3 凤凰彩票app下载 彩神官方app下载安卓版 网信快三 一分快3 快三彩票购彩平台 凤凰彩票官方 快3官网 网信彩票 快3app 网信彩票平台 百姓彩票平台 网信平台官网 快3app下载 百姓彩票 每日彩票 快3app 百姓彩票 每日彩票 快3app 百姓彩票平台 幸运5分彩快3 快3彩票app下载 百姓彩票网站网址 大发10分PK10 快3下载 网信彩票平台 网信平台官网 快3彩票官网app 凤凰彩票官方 彩神彩票 大发10分PK10 彩神v3 大发彩票app下载 百姓彩票网站网址 彩神购彩平台 每日彩票 官方正规快三彩票平台 彩神彩票购彩平台 百姓彩票 凤凰彩票购彩平台 凤凰彩票app下载 彩神官方app下载安卓版 网信快三 一分快3 快三彩票购彩平台 凤凰彩票官方 彩神彩票 大发10分PK10 彩神v3 凤凰彩票登录 乐发lv 乐发∨Il 百姓彩票网站网址 乐发彩票 乐发彩票官方网站 乐发lll安装 百姓彩票网站网址 凤凰彩票app下载 大发10分PK10 乐发2 乐发app 凤凰彩票 大发彩票app 乐发登录入口 乐发ll登录 乐发v官网 乐发官网 大发彩票app下载 凤凰彩票购彩平台 彩神彩票 官方正规快三彩票平台 一分快3 百姓彩票网站网址 凤凰彩票app下载 大发10分PK10 乐发2 乐发app 凤凰彩票 大发彩票app 乐发登录入口 乐发ll登录 乐发v官网 乐发官网 大发彩票app下载 凤凰彩票购彩平台 彩神彩票 官方正规快三彩票平台 1分快三平台 百姓彩票平台 凤凰彩票登录 幸运5分彩快3 彩神 乐发彩票 乐发 大发彩票 乐发iv游戏平台 乐发lv 乐发lll 乐发ii下载入口 乐发彩票官方网站 凤凰彩票官方网站 凤凰快3 彩神彩票官网首页 1分快三平台 百姓彩票平台 凤凰彩票登录 幸运5分彩快3 彩神 乐发彩票 乐发 大发彩票 乐发iv游戏平台 乐发lv 凤凰彩票app 乐发app 网信彩票平台 网信彩票平台 乐发iv游戏平台 凤凰彩票app 乐发lv 乐发彩票app下载 凤凰彩票app 网信彩票平台 乐发彩票app下载 乐发lv 乐发app 大发彩票安卓下载 大发彩票安卓下载 大发彩票 乐发彩票app下载 网信彩票平台 乐发iv游戏平台 彩神彩票 乐发彩票中心 极速快3彩票平台 人人快三凤凰 大发彩票app 大发彩票大全 乐发彩票 彩神彩票官方网站 乐发app 酷天堂彩票平台 凤凰彩票app下载 凤凰彩票大厅 凤凰彩票app 极速快3彩票平台 凤凰彩票 凤凰快3 乐发ll官网 乐发彩票中心 正规快三送彩金平台 凤凰彩票官方 乐发ll 乐发 网信彩票 彩神彩票 彩神彩票官方网站 大发彩票app 网信彩票用户 百姓快三 百姓彩票平台 乐发lv 乐发彩票app下载 彩信平台 网信彩票 乐发彩票官方网站 乐发∨Il 人人快三凤凰 凤凰彩票 凤凰快3 乐发ll官网 乐发彩票中心 正规快三送彩金平台 凤凰彩票官方 乐发ll 乐发 网信彩票 彩神彩票 彩神彩票官方网站 人人快三凤凰 乐发彩票 彩神彩票 乐发iv游戏平台 乐发彩票 大发彩票中心 凤凰彩票登录 凤凰彩票app 彩神彩票 大发彩票 乐发ll 大发彩票app 凤凰快3 凤凰彩票 彩神彩票 乐发ll 凤凰彩票 乐发lll 凤凰彩票大厅 网信彩票 彩神彩票 乐发lv 快盈彩票 乐发彩票官方网站 盈彩网投资平台 大发官网 一分时时彩 乐发lv 快3平台 凤凰快3 乐发ll 全民彩票 乐发彩票官方网站 百姓彩票 乐发彩票 大发彩票 极速快3 乐发app 大发官网 乐发lll 快3平台 凤凰快3 乐发ll 全民彩票 乐发彩票官方网站 百姓彩票 乐发彩票 大发彩票 极速快3 乐发app 彩神iv 大发彩票app 大小单双平台 一分pk10 乐发lv 快盈彩票 乐发官网 快彩彩票 百姓彩票 凤凰彩票大厅 网信彩票 乐发彩票中心 网信快3 乐发 彩神xl 三分快3 大发彩票 大发官网 乐发lll 快3平台 凤凰快3 乐发ll 全民彩票 乐发彩票官方网站 百姓彩票 乐发彩票 乐发彩票官方网站 大发彩票 乐发 分分快3 彩神vl 55世纪 55世纪 凤凰快3 乐发彩票 乐发lv welcome凤凰彩票 乐发ll 1分快3 彩神 彩神ll 1分快3官网 1分快3的平台 welcome凤凰彩票 三分快3 彩神x 彩神vl 凤凰彩票 彩神xl 大发彩票 凤凰彩票大厅 乐发官网 乐发ll 乐发lll 乐发lv 大发彩票app 大发彩票 乐发 乐发彩票 乐发彩票中心 凤凰快3 乐发彩票 彩神xl 腾讯快3 大发彩票 彩神xl 大发彩票 乐发彩票 大发彩票app 快3平台 乐发 1分快3 乐发彩票 彩神x 凤凰快3 彩神xl 彩吧助手 大发彩票app 快3平台 大发排列3 彩神iv 彩神vl 乐发IV 彩神x 一分pk10 大发排列3 乐发lv 快3彩票 乐发app下载 三分快3 快三平台助手 乐发彩票ll 彩神iv 乐发lll下载 盈彩网投资平台 乐发Ⅲ 一分pk10 凤凰彩票 乐发Vll 大发官网 乐发ll 大发彩票 乐发1 凤凰快3 彩神vl 乐发lx 百姓彩票 乐发VI 彩神x 乐发IV 极速快3 乐发 凤凰快3 网信快3 乐发lv 快3彩票 乐发app下载 三分快3 快三平台助手 乐发彩票ll 彩神iv 乐发lll下载 盈彩网投资平台 乐发Ⅲ 凤凰彩票大厅 乐发lv 乐发lv 乐发lv 凤凰彩票 大发彩票 大发彩票 凤凰彩票 乐发lv 凤凰彩票 凤凰彩票 乐发lv 乐发ll 凤凰彩票app下载 凤凰彩票 凤凰彩票 乐发lv 乐发ll 凤凰彩票app下载 凤凰彩票 凤凰彩票 乐发lv 彩神x 乐发 乐发ll 极速快3 乐发lv 乐发彩票中心 快3彩票 凤凰彩票大厅 彩神x 凤凰彩票app 分分快3 网信彩票 网盟彩票 凤凰彩票 百姓彩票 乐发 快彩彩票 乐发彩票 快3平台 百姓彩票 大小单双平台 凤凰快3 彩神xl 一分pk10 乐发lv 三分快3 大发彩票 乐发彩票 快3平台 百姓彩票 大小单双平台 凤凰快3 彩神xl 一分pk10 乐发lv 三分快3 大发彩票 极速快3 乐发ll 网信彩票 乐发lv 全民彩票 凤凰彩票app下载 快盈彩票 大发彩票app 大发官网 凤凰彩票 彩神iv 大发彩票 网信快3 凤凰彩票 百姓彩票