Trump tariffs: Zuru co-founder Nick Mowbray says US tariffs will raise prices, slow innovation

Zuru Toys co-founder Nick Mowbray has hit out at US President Donald Trump ’s tariffs , saying “tariff wars miss the point” and “penalising trade doesn’t bring jobs back – it just raises prices and slows innovation”. The Kiwi toy and consumer product manufacturer makes baby care, beauty, confectionery, home care, pet food and wellness products, largely in Asian territories. Many of the locations that Zuru has investments in or relies on are now being faced with steep tariffs , particularly China .

Trump originally unveiled a 34% additional tariff on Chinese goods. But after China announced its own 34% counter-tariff, Trump vowed to pile on another 50% duty – bringing the additional rate on Chinese products to 104%, the White House confirmed..