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Exclusive: Major US toymaker speeds up plan to move manufacturing out of China

The article from MSN discusses how a major U.S. toymaker, Basic Fun, is accelerating its plans to shift manufacturing out of China due to increasing geopolitical tensions and trade uncertainties. CEO Jay Foreman highlighted that the company has been diversifying its supply chain for the past five years, with a significant portion of its production already moved to countries like Vietnam, India, and Mexico. This move is part of a broader trend among U.S. companies to reduce reliance on China amid concerns over potential trade wars, tariffs, and supply chain disruptions. The decision is also influenced by rising labor costs in China and the desire to be closer to key markets to reduce shipping times and costs. Basic Fun's strategy includes not only shifting manufacturing but also exploring new product lines and acquisitions to adapt to changing market dynamics.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/news/exclusive-major-us-toymaker-speeds-up-plan-to-move-manufacturing-out-of-china/ar-AA1ASeV6 ]