The toy company Mattel may raise US prices to offset the cost of Donald Trump’s tariffs on goods made in Mexico and China, its chief executive has warned.
Ynon Kreiz told the Financial Times that less than 40 per cent of Mattel’s production was in China while Mexico accounted for less than 10 per cent. The US president has imposed an additional tariff of 10 per cent on Chinese goods and threatened tariffs of 25 per cent on imports from Mexico and Canada.
“We believe we are very well positioned to leverage the strength of our supply chain to mitigate for tariffs,” Kreiz said as Mattel released fourth-quarter and annual results on Tuesday. “And we are also considering potential pricing actions to mitigate for the tariffs.”
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