
Trump vs Ynon Kreiz: Trump blasts Barbie maker Mattel's CEO, threatens 100 pc tariff on his toys; ‘He won't sell…'
President Donald Trump threatened to levy a 100 percent tariff on Mattel, the company that makes Barbies, following the firm CEO Ynon Kreiz's announcement that the firm would continue to manufacture outside of the United States while reducing its reliance on Chinese imports.
'I've heard [Mattel] said: 'Well we're going to go counter, we're going to try going someplace else,'' the US President stated in the Oval Office on Thursday. 'That's OK, let him go, and we'll put a 100 percent tariff on his toys, and he won't sell one toy in the United States, and that's their biggest market.'
Trump's warning against Mattel comes as toys, especially dolls, have become a hot topic about tariffs and the trade policies of his administration.
In order to guarantee adequate supply and reasonable prices come holiday season, a number of industry representatives have urged the government to grant an exemption, warning that their dependency on Chinese imports will cause toy prices to be especially affected by the current 145 percent rate on the nation.
Trump and his administration have downplayed the importance of the issue. The President has stated on multiple occasions that girls would be 'better off' for having fewer dolls, and he is now threatening to place tariffs on one of the most famous doll producers in the world.
Trump made the remarks in reaction to a reporter's inquiry about Mattel's latest decision to increase its prices due to the tariffs. This comes after the US announcement about the UK deal that centered on autos and metals.
Also Read: Did Pope Leo XIV vote for Trump in 2024 US election? Here's what we know about his political views
Earlier this month, Mattel noted the 'changes in global trade policy and U.S. tariffs' and declared that it would be implementing 'pricing action' in its US business.
During Mattel's first-quarter earnings call, CEO Ynon Kreiz mentioned that the tariff-driven price surge was one of three 'mitigating actions' the firm had been compelled to take in wake of the tariffs, along with a decrease in its reliance on goods sourced from China and a wider diversification of its supply chain.
In a Tuesday interview with CNBC, Kreiz was questioned if the tariffs would make it more cost-effective to move some manufacturing to the US. He said, "We don't see that happening.:
'We believe that production in other countries—where we can be efficient and more productive—is the best balance between manufacturing outside of the U.S. and [continuing] to develop product in terms of design and creativity in America,' he stated.
In case the current scenario continues, Kreiz warned against significant possible chaos in the industry, stating that '80 percent of toy production globally happens in China. The Toy Association has stated that many companies are exposed to potential risks.'
'We support the Toy Association's advocacy for zero tariffs on toys to ensure that safe and affordable products remain accessible to everyone,' he added.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
22 minutes ago
- Time of India
Oil jumps & slips, dollar dips to lowest level in 3 years
Oil retreated from its surge over West Asia tensions as traders weigh the latest developments in the region against a risk-off mood triggered by renewed tariff threats from Washington. Tired of too many ads? go ad free now At the same time, the dollar fell to the weakest level in three years amid worries over the outlook for the US economy. The Bloomberg Dollar Spot Index slid as much as 0.8% on Thursday to the lowest level since April 2022. The euro jumped to the strongest since 2021, while the British pound advanced to a new three-year high. So far in 2025, the dollar is down more than 8% as investors build up bets that US President Donald Trump's trade and tax policies will weigh on the economy. The concern remains that the US could experience a spike in inflation and start sliding toward a recession amid Trump's sweeping tariffs on imports. This has investors poring over incoming economic data, especially on the labour market, to determine the path of rates in the US. Brent slipped near $69 a barrel after jumping 4.3% on Wednesday, the most since Oct, with signs the rally was overstretched. Crude shot up after Iran threatened to strike US bases if nuclear talks fell through and the US told some staff to depart the embassy in Iraq. The UK Navy issued a warning to ships sailing across the Strait of Hormuz, through which over a quarter of the world's oil travels. On the trade front, Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies. That blunted appetite for risk assets.


The Hindu
22 minutes ago
- The Hindu
Japan and China trade blame over Chinese fighter jets flying close to Japanese planes
Japan and China blamed each other on Thursday (June 12, 2025) after Tokyo raised concern that a Chinese fighter jet came dangerously close to Japanese reconnaissance planes. The Chinese fighter jets took off from one of two Chinese aircraft carriers that were operating together for the first time in the Pacific, Japan's Defence Ministry said. Chief Cabinet Secretary Yoshimasa Hayashi told reporters that Japan conveyed its 'serious concern' to China that such close encounters could cause accidental collisions. According to Japan, a Chinese J-15 fighter jet took off from the Shandong aircraft carrier on Saturday (June 7, 2025) and chased a Japanese P-3C aircraft on reconnaissance duty, coming within an 'abnormally close distance' of 45m for about 40 minutes. A Chinese jet also crossed 900m in front of a Japanese P-3C for about 80 minutes on Sunday (June 8, 2025), the Ministry said. Chinese Foreign Ministry spokesperson Lin Jian defended China's activities as being fully consistent with international law and practices, and blamed Japanese vessels and airplanes for conducting close reconnaissance of China's military activities. The incidents occurred in the Pacific, where Japan's Self-Defence Force spotted the two carriers, the Shandong and the Liaoning, almost simultaneously operating near southern Japanese islands for the first time. Aircraft carriers are critical to projecting power at a distance. China routinely sends coast guard vessels, warships and warplanes around disputed East China Sea islands, but now they also reach as far as Guam, a U.S. Pacific territory with military bases. Both Chinese carriers operated in waters off Iwo Jima, about 1,200km south of Tokyo. The Liaoning also sailed inside Japan's exclusive economic zone near Minamitorishima, the country's easternmost island, Japan's Defence Minister Gen Nakatani said. There was no violation of Japanese territorial waters, he said.


India Today
32 minutes ago
- India Today
I like Tesla: Trump softens tone after Musk backtracks in ugly feud
US President Donald Trump said he still likes Tesla, even after a public spat with its CEO, Elon Musk. Speaking at a White House event on Thursday, Trump said, "I like Tesla," and added, "A lot of people love the electric. They like Tesla. So do I. In all fairness, I like Tesla and I like others too, but I also like combustion engines."advertisementHe had threatened to move his red Tesla to the White House. Trump made these comments during an event where he officially ended California's strict electric vehicle (EV) rules. While signing documents to cancel the state's EV mandates, Trump joked, "Now we know why Elon doesn't like me so much, which he does, actually. He does."The joke was a nod to the recent argument between the two. Musk lashed out at Trump's 'Big Beautiful Bill' calling it a "disgusting abomination." He even said the president should be impeached, to which, Trump responded by saying he was "disappointed" in Musk. BREAKING: President Trump says "I like Tesla." DogeDesigner (@cb_doge) June 12, 2025MUSK SAYS HE WENT TOO FAR Elon Musk, the billionaire CEO of Tesla and SpaceX, has since admitted he went too far with his online posts about Trump. On Wednesday, Musk wrote on his social media platform X, "I regret some of my posts about President Donald Trump last week. They went too far."advertisementHe deleted several posts related to Trump -- including the post where he supported the idea of Trump being impeached. However, he still believes the Trump tax bill will only increase the country's financial tension between the two all-weather friends escalated to an extent that Musk even talked about starting his new political party. But things calmed down after close aides to both men stepped President JD Vance, White House Chief of Staff Susie Wiles, and David Sacks -- a friend of Musk and a senior Trump advisor on crypto -- all worked behind the scenes to bring Musk and Trump back on good to reporters at the Kennedy Centre, Vance confirmed he had spoken to both Trump and Musk. "We're trying to ensure that Elon is publicly supporting and privately supporting the president's agenda," Vance said. He also mentioned that Trump was "rightfully very frustrated" by Musk's comments but didn't want to continue fighting with InMust Watch