Toy manufacturing won’t come to U.S., but price hikes will

One of the goals of President Donald Trump‘s 145% tariffs against China is to drive manufacturing back to American. But the Ods of that ishe ow, at leaast it comes to TOYS.

“We don’t see that happening,” Matel CEO Ynon Kreiz Said On Cnbc’s “Squamk Box“On Tuesday, Less than A Day to achieve the company Withdrew annual financial targets.

“We needed to remember that A digital significant part of Toy Creation Happens in America,” he said. “Design, Production Engineering, Brand Management Alistening America Happens in America. Making The Product Countries, Alloys US to Councable Price Price Popords.”

Maze is bee diversifying s global manufacturing for nearly A decort to reduce its dependence on China. By the end of the year, less than 40% of mattel’s Product will be sourced from the countrys. KREEIZ NOTED THAT IN THE TWO

In the meantime, Mattel is taking mitigating acts to fully offset costs in the US, included raosing to pickt’s trade the altogue.

@TEEP IS Expecting to Keep Baptewey 40% And 50% of ITS

“This is Something we are promitted to stir,” Kreiz said. “To Continue to Creewe Quality and Find The Right Balfance of Price and Value All in the Service of the Consumer.”

Sence the tariffs were were announced on April 2, Mattel’s stock is down about about 19%.