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Overheard: The Conversation, in Context

"No one wants to have to explain to their children why Santa was put out of work."

—Steve Pasierb, president of the Toy Industry Association, in his year-end letter to members about an import-tax code change proposed in the House of Representatives. More than 96 percent of American toy spending went to imports for the past seven years, IBISWorld estimates. Roughly 95 percent of Hasbro products and 100 percent of Mattel's are made overseas, according to a toy-industry analysis by Wells Fargo. The original 1959 Barbie doll was stamped "Made in Japan."

A version of this story originally appeared in the May/June 2017 issue of Pacific Standard.