Responding to questions about his tariffs on imports, President Trump said your children don't need so many toys. If the specific reason why remains a mystery to anyone, Mattel CEO Ynon Kreiz explains: because they're going to raise prises on the toys.
In an appearance on CNBC's "Squawk Box" on Tuesday, Mattel CEO Ynon Kreiz cast doubt on the notion that Mattel might move its manufacturing to the United States in light of President Trump's tariffs on Chinese goods. "We don't see that happening," Kreiz said. But what Mattel does see happening is rising prices in the US. During the interview, Kreiz cited three key strategies the company is deploying to mitigate the costs of Trump's trade war, with "pricing action," among them.
80% of toys are made in China. No promotions, no discounts, no deals, no dolls. Cheer up, you can still afford five pencils!
Previously:
• 1960s commercial for Mattel's realistic snub-nose .38 pistol with bullets
• Phishers trick Mattel into transferring $3M to a Chinese bank
• Mattel debuts their first transgender Barbie
• Mattel's latest Barbie is 70s Stevie Nicks
• Mattel releases Sue Bird Barbie doll
• Mattel announces 'David Bowie' Barbie doll
