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Mattel is set to increase prices because of Trumps tariffs on China.
Mattel is set to increase prices because of Trumps tariffs on China.
Price increases coming
In the future, it will cost you more to give your child or grandchild a new Barbie Doll or another addition to the Hot Wheels Car-collection.
Mattel with bad news
Mattel Inc, the maker of both Barbie Dolls, Hot Wheels and other popular toys, saaid Monday, that they are increasing prices on some products sold in the U.S., the reason being Donald Trumps tariffs on China.
40 % of global production
The California-based company explained that the increase in prices was necessary, even though the company is speeding up it’s plans to diversify manufacturing. At the moment, 40 % of Mattels global production is based in China, which has been hit with a 145 % tariff by the Trump Administration.
Still expecting to be affordable
Even though some products are set to cost more in the future, Mattel said it is still expecting 40-50 % of their products to cost $20 or less.
Impossible to predict
The company added that it would enlist factories in more than one country for some highly sought toys to prevent shortages. But with all the uncertainty in the global trade at the moment, Mattel said it would be “difficult to predict” the company’s U.S. sales for the remainder of 2025.
Tariff turmoil
Even though Trumps sweeping tariffs have been put on a 90 day suspension, companies all around the world are still trying to plan their next move – especially as the suspension does not include China, meaning products being shipped to the U.S. from China is hit with a 145 % tariff.