Bye-Bye Barbie: Mattel faces price hikes after Trump’s Tariff remarks on dolls
Mattel warns U.S. shoppers about potential price hikes for toys as Trump’s tariffs on foreign goods remain in place. The company discusses how tariffs are affecting the toy industry and how production plans are evolving.
Mattel, the iconic maker of Barbie dolls, Hot Wheels cars, and other popular toys, has warned U.S. consumers about potential price hikes as a result of President Trump's ongoing tariffs on foreign goods. The toy company is grappling with the economic fallout of Trump's trade policies, particularly as they impact imports from countries like China.
As global tariffs continue to rise, especially on Chinese imports, Mattel is concerned that U.S. shoppers could face higher prices for toys during the crucial holiday shopping season.
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Tariffs on imported goods could lead to higher toy prices
Mattel CEO Ynon Kreiz stated that while it is the company's priority to provide affordable toys, Donald Trump's tariffs may have just made it more difficult. “Toys are such an essential part of children’s lives,” stated the CEO, “Where necessary, we will be taking pricing action in the U.S.”
Barbie dolls have long since become a significant part of little kids' lives. Photo: Mattel
However, according to the company, they are still expecting 40% to 50% of their products to be at least $20 less expensive but highlighted the fact that they are “operating in an uncertain macroeconomic environment with significant volatility, including changes in global trade policy.” Due to this, Mattel held off providing a financial outlook for the year.
Trump’s tariffs and the toy industry’s struggles
With Trump proposing tariffs in foreign goods, many industries have been on high alert. Several manufacturing businesses have been the most affected, including the toy's industry. Regarding this, Donald Trump has said that “maybe the children will have two dolls instead of 30 dolls,” and "maybe the two dolls will cost a couple of bucks more than they would normally.”
In an interview with NBC News, he also defended his proposal, stating that he doesn't think a "beautiful baby girl that’s 11 years old needs to have 30 dolls. I think they can have three dolls or four dolls.”
