Trump's Tariff Hike Sparks Panic Among US Importers, Woldenberg Warns 'End of Days'

American importers are struggling to adjust to a significant increase in tariffs on Chinese goods, recently raised to a staggering 145% by former President Donald Trump in response to alleged unfair trade practices. Rick Woldenberg, CEO of Learning Resources, described the situation as 'the end of days,' as his company faces an estimated tariff bill soaring from $2.3 million last year to $100 million in 2025. The abrupt tariff hikes have blindsided many business owners, forcing them to reconsider their supply chains heavily reliant on Chinese manufacturing. Companies like MGA Entertainment are already raising prices and reducing their reliance on Chinese products, while others are looking to alternative manufacturing locations despite higher costs. Industry experts warn that the unpredictability of these tariffs is damaging, as businesses struggle to plan in an uncertain climate. This situation reflects a broader challenge for U.S. companies that have long depended on affordable Chinese imports for a variety of consumer goods, from toys to baby carriages.