Big Take The American Toymaker Suing Trump Over Destructive Tariffs
6 snips
Jul 1, 2025 Rick Woldenberg, CEO of Learning Resources, shares his fight against tariffs that have disrupted his toy company and others in America. Joined by Lucille Liu, Bloomberg's correspondent in Beijing, they discuss the chaos caused by Trump's trade war. Woldenberg reveals the emotional and financial toll on businesses and how companies are considering shifts to countries like Vietnam and India. They explore the resilience of Chinese manufacturers responding to these challenges and the broader impact on consumers and the economy.
AI Snips
Chapters
Transcript
Episode notes
Tariffs Are A Tax On US Businesses
- Tariffs act as a direct tax on American businesses, not on Chinese producers or governments.
- Companies must pass some of these costs to consumers, increasing prices and impacting sales and profitability.
Shifting Manufacturing Out Of China
- Learning Resources is urgently moving production from China to countries like Vietnam and India.
- Some products may disappear temporarily due to prohibitive cost caused by tariffs.
Challenges Of Diversifying Supply Chains
- Moving manufacturing out of China is complex and slow because new partners must be developed.
- New factories outside China often lack volume and capabilities, resulting in higher costs and risks.