Big Take Asia The American Toymaker Suing Trump Over Destructive Tariffs
Jul 1, 2025
Rick Woldenberg, CEO of Learning Resources, discusses his company's lawsuit against the Trump administration over tariffs that threaten American toy manufacturing. Lucille Liu, Bloomberg reporter in Beijing, provides insights into how Chinese manufacturers are adapting to these economic pressures. Together, they explore the chaos faced by U.S. importers and the far-reaching implications for small businesses and consumers, revealing strategies companies are adopting to navigate this turbulent trade landscape.
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Tariff Spike Threatens Business
- A 145% tariff on Learning Resources' imports from China would spike costs from $2.3 million to about $100 million in 2025.
- This reflects how tariff increases directly threaten business sustainability.
Tariffs Burden U.S. Businesses
- Tariffs act as taxes on American businesses and consumers, not on Chinese companies.
- Rick Woldenberg clarifies that U.S. companies directly pay the tariffs, debunking claims otherwise.
Moving Production from China
- Learning Resources was 75-80% manufacturing in China before tariffs prompted shifts.
- They are moving production to Vietnam and India, but some products might disappear temporarily.