Hasbro Inc. toys from based on “Marvel’s The Avengers” movie sit on the shelf at a Target Corp. store in Union, New Jersey, U.S., on Wednesday, Aug. 22, 2012.
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Shares of major toy makers Mattel and Hasbro soared on Tuesday after the United States Trade Representative announced it was delaying proposed tariffs that would have applied to toys.
Mattel rose 9%, while Hasbro climbed 5.7%.
President Donald Trump announced earlier this month that an additional 10% tariff would go into effect on Sept. 1 on a list of items, including toys. The USTR said in a statement Tuesday that the tariffs on some items, including “certain toys,” will be delayed until Dec. 15.
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