Latest news with #MattelInc
Yahoo
16-05-2025
- Business
- Yahoo
'He Won't Sell One Toy In The United States,' Says Donald Trump Suggesting A 100% Tariff On Mattel Which He Seemed To Mistake For A Country
President Donald Trump has doubled down on his aggressive tariff stance, taking aim at toy giant Mattel Inc. (NASDAQ:MAT) as part of his ongoing trade dispute with China. In remarks from the Oval Office on Thursday, Trump seemed to mistake the company for a country, saying, "Mattel, I don't know, I'm not so sure, they also said, they're the only country I've heard they said, 'Well, we're going to go counter, we're going to try going someplace else,' that's okay.'Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Hasbro, MGM, and Skechers trust this AI marketing firm — He continued, "Let him go and we'll put a 100% tariff on his toys, and he won't sell one toy in the United States, and that's their biggest market." Mattel recently announced plans to diversify its supply chain to reduce its reliance on Chinese manufacturing, a response to Trump's steep import tariffs. CEO Ynon Kreiz told CNBC that the company is focused on global diversification, aiming to ensure that no single country will handle more than 25% of its sourcing by the end of 2025, including China. Kreiz dismissed the idea of moving production back to the U.S., saying, "We don't see that happening." The company's shift comes as Trump pushes for more U.S.-based manufacturing, despite the higher costs this approach would impose on companies and consumers. Trending: Nancy Pelosi Invested $5 Million In An AI Company Last Year — Trump recently downplayed concerns about the impact of tariffs on toy prices, saying children might just end up with "two dolls instead of 30" and that the remaining toys might "cost a couple of bucks more." According to a recent New York Times report, around 80% of all toys and 90% of all Christmas decorations sold in the U.S. are produced in China. With tariffs of up to 145% currently in place, many companies have paused new orders, further threatening the availability of popular holiday items. Industry experts have warned that these tariffs could result in a significant toy shortage this Christmas. Toy Association's CEO Greg Ahearn told the Times that the situation is a "frozen supply chain" and called for a 24-month reprieve on tariffs to give manufacturers time to adjust their sourcing the maker of iconic brands like Barbie, Hot Wheels, and Fisher-Price, has been gradually reducing its reliance on China for nearly a decade. CEO Kreiz told CNBC that by the end of 2025, the company aims to have no single country handle more than a quarter of its production. However, this global diversification strategy has not included a significant move toward U.S. manufacturing. Trump's latest comments suggest the White House is prepared to penalize companies that try to sidestep his trade policies. "I wouldn't want to have him as an executive too long," Trump said, seemingly referencing Kreiz's strategy to diversify rather than relocate production to the U.S. With the holiday season fast approaching, the question remains whether parents will be willing to pay higher prices for fewer toys as Trump's trade policies continue to ripple through the retail sector. Read Next:Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? MATTEL (MAT): Free Stock Analysis Report This article 'He Won't Sell One Toy In The United States,' Says Donald Trump Suggesting A 100% Tariff On Mattel Which He Seemed To Mistake For A Country originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
10-05-2025
- Business
- Yahoo
Trump says he will put a '100 percent' tariff on Mattel to prevent them from selling toys if they manufacture somewhere else
Trump says he will put a '100 percent' tariff on Mattel to prevent them from selling toys if they manufacture somewhere else Source Reuters
Bloomberg
05-05-2025
- Automotive
- Bloomberg
Mattel Pulls 2025 Sales Forecast, Citing Tariffs' Impact on Toys
Mattel Inc. withdrew its forecast for a return to sales growth in 2025, citing US President Donald Trump's plan to impose tariffs on imported toys. The company, which reported better-than-expected first-quarter results, predicted in February that sales of Barbie dolls, Hot Wheels cars and other toys would grow as much as 3% in 2025, snapping three years of flat or declining revenue. Earnings were also projected to rise.
The Onion
14-04-2025
- Entertainment
- The Onion
LeBron James Becomes First Male Athlete To Have Likeness Depicted In Ken Doll
Basketball legend LeBron James became the first professional male athlete to have his likeness depicted in a Ken doll, with Mattel Inc. unveiling the figure to kick off the toy manufacturer's 'Kenbassador' series. What do you think? 'I just can't picture Lebron without nipples.' Andrew Boothby, Kettle Manufacturer 'Finally, I can make him and Kyrie kiss.' Katrina Meurer, Dress Shipper 'I worry this will only reinforce unattainable marketability standards for my kids.' Jake Fletcher, Risk Mitigator
Reuters
14-04-2025
- Business
- Reuters
Gloom in Barbieland as Trump tariffs drive up costs
GIJON, Spain, April 14 (Reuters) - Surrounded by hundreds of Barbies at her home in the northern Spanish port of Gijon, TikTok influencer and collector Noemi de Lama has shared the news with her followers that U.S. tariffs are likely to drive up the price of their favourite dolls. De Lama, who goes by the name of Mistik, believes she and other collectors will carry on buying. She estimates, however, the knock-on impact of Donald Trump's tariffs will be to increase prices of the Mattel Inc (MAT.O), opens new tab dolls by around a fifth or more as many are manufactured in China. "Every time someone wants to bring something (from) outside the United States to his country, Trump is going to overcharge," she said in an online post. If it is any consolation, the rise is part of more generalised inflation. "Let's not forget that (prices) are rising not only on luxury items or whims, such as collecting. The rest of the things go up also," she said. The Barbie gloom extends to the southeastern town of San Vicente del Raspeig, on the other side of Spain, where toy store owner Gloria Diez is also alarmed, fearing price rises will be passed on from manufacturers to distributors and buyers. "The end-customer is the one who ends up paying for that increased amount," Diez said. "As a merchant and collector, in the end, any instability in the market, whether it's a war, tariffs, or containers from China suddenly being stuck at the canal, it is always something that will affect our trade," she said. Mattel did not immediately respond to a request for comment.
