Toy group VTech to move production out of China despite tariff reprieve

VTech, a major toy manufacturer, announced plans to shift all US-bound production away from China, citing unavoidable price increases for American consumers due to tariffs. CEO Allan Wong stated the transition to factories in Malaysia, Mexico, and Germany would be completed by the end of next year, despite recent tariff reductions. The company, which reported a 1.5% revenue increase but a 5.9% profit decline, emphasized its commitment to the US market, even as other toy makers like Mattel also accelerate moves to diversify their supply chains.