Mattel says it will raise prices after Trump says that the Americans do not need a lot of dolls

In the appearance of CNBC “Squawk box“On Tuesday, Ninon Creies, CEO of Mattel, is doubting that Mattel may transfer his manufacture to the United States in light of President Trump’s tariff for Chinese goods.” We do not see that happening, “Creies said. But what Matel Do See the occurrence of high prices in the United States. During the interview, Kreiz pointed out three major strategies published by the company to alleviate the costs of Trump’s trade war, by “making prices”.

The conversation came just one day after Matel withdrawn its annual financial forecast, explaining In the first quarter profit report This, “Given the volatile overall economy environment and the development of the American introductory scene, it is difficult to predict consumer spending and American Mattel sales in the remaining period of the year and the holiday season.” In this report, Mattel also said it raised the goal of saving this year from $ 60 million to 80 million dollars, and part of it will be achieved by reducing promotional offers and discounts. (In another step to reduce costs, the company also recorded more than a hundred employees from its headquarters at El Segundo, California, at the end of March.)

As it is making its efforts to address the definitions, Creies said that the company also focuses on diversifying the global supply chain to reduce its dependence on China. Mattel president claimed in the conversation today that within two years, no one country will represent more than 25 % of Mattel sources.

Outside China, Mattel also imports products (which include Barbie, hot wheels, and an American girl) from Indonesia, Malaysia and Thailand. These countries were also the targets of the mutual definitions announced by the Trump administration in early April before stopping for 90 days.

The emergence of “Squawk Box” for Cares also comes less than a week after President Trump was treated by the tariff that the tariff will achieve on the game industry (80 % of the production of world games in China), saying at the cabinet meeting, “Well, maybe children will have two dolls instead of 30 dolls, as you know? Fixed supplies of the product with a wide range of price points.

The Games Association, a commercial group that represents the American game industry, has strongly pushed an exemption from Trump’s tariff since its announcement. Kreiz expressed his support for the group’s invitation in the interview, saying that the games are “an essential part of children’s lives.”

Kreiz came to Mattel in 2018 from Maker Studios, a company to create the content that Disney obtained in 2016. Thanks to the company’s leadership through a successful transformation voltage. The Barbie Brand brand recorded the best whole year sales results ever in 2021 under the leadership of Krez.

Last week, speaking to the correspondents during the cabinet meeting, President Trump said that “children may have two dolls instead of 30 dolls”, this Christmas season. He insisted that the Americans will be happy to make a sacrifice for … all that he considers the ultimate goal of his trade war. Nobody is completely sure of this, but maybe we will know the black Friday.