The Toy Association & Its Members Advocate to #KeepToysTariffFree

March 31, 2025 | Jay Foreman, CEO of Basic Fun! and a member of The Toy Association™, appeared on CNBC’s "Squawk on the Street" today (March 31) to address the potential impact of tariffs on the toy industry. During the segment, Foreman highlighted how proposed trade measures could affect toys prices, consumers, and companies — especially as negotiations continue between the U.S. and its trading partners.

“We’re advocating for zero tariffs on toys everywhere around the world. Toys are such an important product for children, for parents, for the development of kids, and we want to see toys remain value oriented,” Foreman said. “[We’re] the first industry in the world that’s advocating for zero tariffs across the board.”

Foreman’s remarks come as The Toy Association, alongside other toy associations around the world, continues its push to keep toys exempt from tariffs. The effort is backed by a united, global statement that reaffirms the industry’s shared commitment for toys to remain tariff-free as nations reevaluate trade agreements and policies. The statement cites the 1994 Uruguay General Agreement on Tariffs and Trade (GATT), which has long recognized the essential nature of toys. The full statement is available below:

Global Toy Industry Statement—Keep Toys Tariff-Free
We, the undersigned members of the global toy industry, reaffirm our commitment to ensuring toys are tariff-free around the world, in accordance with the principles set forth in the 1994 Uruguay GATT and subsequent WTO rulings. Toys are "essential products" for children and ensure play, learning, and a healthy, happy childhood. #KeepToysTariffFree

Click here to learn more and to view the full list of signatories.