The CEO of toymaker Hasbro said during a post-earnings conference call Monday that the company will move more production outside of China as a result of potential tariffs.
According to the company’s website, most of its third-party vendors and factories are located in China, but Hasbro said it started expanding production outside of China and will “continue to diversify our third-party factory base globally.”
Washington imposed 25% tariffs on $34 billion worth of Chinese goods in early July and Beijing retaliated, adding levies on U.S. goods worth $34 billion. Last week, in an interview on CNBC, Trump threatened to impose tariffs on all $500 billion in imports from China.
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