"They won't sell a single toy in the US." Trump threatens Barbie maker with 100% tariff
US President Donald Trump has threatened to impose 100% tariffs on products from American toymaker Mattel, the company that makes Barbie, Hot Wheels, Uno, American Girl and other popular brands, The Independent reports.
Trump's statement came in response to Mattel CEO Inon Kreis's interview with CNBC, in which the company's CEO said he had no plans to move production to the US, even despite the imposition of tariffs.
According to Mattel's CEO, the company will either prefer to diversify production to other countries or simply raise prices for American consumers.
"That's fine. Let them go [ed. – Mattel] and we'll put a 100% tariff on their toys and they won't sell a single toy in the United States, which is their biggest market." Trump said.
At the same time, the US president insists that tariffs are not always passed on to the consumer: "Often it's the country or the company that takes it on. People don't always pay."
According to him, Mattel is simply trying to blackmail the US administration to achieve more favorable conditions.
Craze emphasized that much of the product development work happens in the U.S. — design, engineering, brand management. But it's manufacturing overseas that allows the company to create quality and affordable toys.
Currently, about 20% of Mattel's products are imported into the U.S. from China. The company plans to reduce that share to 15% by 2025 and to 10% or less by 2027. In total, Mattel is moving production of 500 toys from China to other countries this year.
- Following the box office success of the Barbie movie, Mattel plans to release at least 14 films based on the company's existing toys.
- Mattel has released the first blind Barbie doll. It complements the Barbie Fashionistas line.