US toy producers plan to move operations to Vietnam

TIN LIÊN QUAN
	Vietnam faces threat of trade deficit in 2019
	Vietnam takes steps to fly direct to United States

Some US toy firms said if their products are made in the US instead of China, their toys will be five times more expensive, and consumers will not buy products at such high prices. In cases where the US applies a 25-percent tax on raw materials, toy businesses may go bankrupt or be forced to cut down their number of workers.

Toys produced by Hasbro firm of the US. (Photo: Getty images)

Experts said the trade war between the world’s two biggest economies have promoted big toy producers of the US to shift their production to other markets, a trend that has occurred due to rising costs in China.

Hasbro, the world's leading toy manufacturer, plans to reduce the amount of toy products made in China to 60 percent by 2020, compared with 69 percent in 2018 and 86 percent in 2012. It plans to move some of its production to the US, Mexico, Vietnam, and India.

According to data from the market research organisation Euromonitor International, the toy manufacturing sector in Indonesia, Malaysia, and Vietnam has recorded double-digit growth during the 2012-2017 period.

State visit to strengthen Vietnam-Argentina ties: Ambassador President of Argentina Mauricio Macri will pay a State visit to Vietnam from February 19 to 21, which will create a push for bilateral cooperation in ...

Mekong Delta enjoys good start to rice harvest Farmers in the Mekong Delta have begun harvesting the winter–spring rice crop in areas where it was sowed early, and yields are high.

Large enterprises - key role for startup businesses Government policies and large enterprises both play an important role in helping startup businesses acquire capital and technology, and linking them into production chains to ...