Following the US treasury secretary, Scott Bessent’s, comment this week about the possibility a “big deal” to drastically de-escalate the tariff war with China, gift companies are understandably taking a cautious approach.
“The tariff situation in the US continues with its rollercoaster ride. Despite the positive news, a lot of the toy and gift trade in China is on hold,” Thomas O’Brien, managing director of Boxer Gifts, told GiftsandHome.net. “We have paused all trade shows that haven’t yet been confirmed, and stopped all imported goods, except some small shipments from the UK, which will end this week.”
Continued Thomas: “It’s certainly fluid! I got off a call with the Astra Toy Association (in the US) on Wednesday where there is a pause going on generally for anyone– which is about 90%+ – making in China. There is no stability. The tariffs could be gone tomorrow – where you’re out of luck as you just paid 145% duty on entry – or they could be 300% you just don’t know!”
Scott Bessent has said that the opportunity for a deal would “rebalance to more manufacturing and less consumption,” with China “less dependent on export-led manufacturing growth.”
Top: Boxer Gifts’ managing director Thomas O’Brien.
