Chester County, Pennsylvania, toy store braces for impact as tariffs are expected to drive up costs
President Donald Trump's tariffs on foreign imports could have a huge impact on the toy industry. And it's not just rattling the big box stores, but small mom-and-pop shops that sell collectables and unique gifts.
KC Olafsson is the owner of Monkey Fish Toys in West Chester, which sells everything from dolls and board games to monster trucks and Legos.
"The tariff on toys have not been there forever," Olafsson said. "It's going to impact every business, and it really was disappointing."
Most of the toys in her shop come from overseas countries like China, which is facing tariffs as high as 145%. Olafsson said if toy manufacturers raise their prices, her shop may have no choice but to pass that cost onto the customers.
"Small items such as a $4 item now, tomorrow being over $10, so we don't want to have that happen, especially disappointing the kids who don't understand what is going on," Olafsson said.
The shop is taking steps to keep prices as stable as possible ahead of the holidays.
"It's going to just now take us more time to look at, potentially other vendors," Olafsson said.
Organizations like The Good Toy Group, American Specialty Toy Retailing Association (ASTRA) and The Toy Association are lobbying for toys to be exempt from tariffs. In the meantime, customers are taking advantage of regular prices with the current stock.
"The place is great," customer Kevin Mealey from West Chester said. "People are cool. We've been buying toys here forever. You should come by Monkey Fish. Buy some toys."
The store offers free gift wrapping and delivery, but Olafsson said those benefits may change. She's worried the tariffs could put her out of business.
She's trying to stay optimistic while bracing for what's to come.
"It just is so sad," Olafsson said. "We're all trying to pull together and hope that we can make a difference, have our voices be heard."
