Mattel says Barbies and Hot Wheels could soon get more expensive under Trump's tariffs
Mattel could soon raise the prices of toys such as Barbie and Hot Wheels in response to new tariffs imposed by President Donald Trump, executives said Tuesday.
Mattel could soon raise the prices of toys such as Barbie and Hot Wheels in response to new tariffs imposed by President Donald Trump, executives said Tuesday.
The toy giant, which manufactures about 40% of its toys in China and less than 10% in Mexico, told analysts it will look to move around its supply chain to mitigate the effect of tariffs, but it is also considering price hikes.
“Certainly against the tariff, we have a range of mitigating actions,” said finance chief Anthony DiSilvestro on the company’s fiscal fourth-quarter earnings call. He said those actions include leveraging Mattel’s supply chains and “potential price increases.”
“We do work closely with our retail partners to achieve the right balance and always keep consumers in mind when we consider pricing actions,” he added.
The comments come after Trump imposed a 10% tariff on Chinese goods this week. He also paused planned 25% duties on imports from Mexico and Canada for 30 days.
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