President Trump's new 10% tariff on U.S. imports from China could force Mattel to increase prices on popular toys like Barbie and Hot Wheels. The company, which sources roughly 40% of its toys from China, is exploring various strategies to mitigate the impact, including potential price hikes and working closely with retailers.
President Trump's move to tack an additional 10% tariff on U.S. imports from China could lead Mattel to hike the price of its Barbie, Hot Wheels and other toys. Mattel Chief Financial Officer Anthony DiSilvestro said in an earnings call with Wall Street analysts on Tuesday that roughly 40% of the company's toys are made in China, while noting that is less than the industry average of 80%. Overall, the fresh U.S. levies on Chinese good affect about 20% of Mattel 's global production.
Mattel executives spoke to analysts after the company reported fourth-quarter earnings and sales that surpassed expectations, with its vehicle toy category — fueled by its Hot Wheels brand — its fastest-growing segment. Demand for dolls and baby gear fell, with the former 'down primarily due to Barbie as we wrapped the movie in the prior year,' Mattel CEO Ynon Kreis said in the call. Toy sellers fear the steeper U.S. tariffs on China will hurt their business.
TRADE WAR CHINA TARIFFS MATTEL CONSUMER PRICE
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