President Donald Trump took aim at the “country” of Mattel, the manufacturer of Barbie dolls and Hot Wheels.
Earlier this week, the company indicated that it would bump up prices because of the president’s 145 percent tariff on most Chinese exports.
When asked about it Thursday, Trump claimed that that was part of a negotiating ploy.
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“Mattel, I don’t know. I’m not so sure. They also said—they’re the only country I’ve heard, they said, ‘Well, we’re going to go counter. We’re going to try going someplace else.’ That’s okay,“ Trump said.
“Let him go, and we’ll put a 100 percent tariff on his toys. And he won’t sell one toy in the United States, and that’s their biggest market,” Trump added.
Mattel CEO Ynon Kreiz said Tuesday on CNBC that it was unlikely that the company would start manufacturing its products in the United States.
“We don’t see that happening,” Kreiz said on Squawk Box. “We believe that production in other countries where we can be efficient and more productive is the best balance between manufacturing outside of the U.S. and continuing to develop product in terms of design and creativity in America.”
Mattel, a California-based company, is also planning to cut its Chinese imports from 20 percent to 15 percent by 2026.
Late last month, Trump admitted the cost of his tariffs on children’s toys.
“Somebody said, ‘Oh, the shelves are gonna be open.’ Well, maybe the children will have two dolls instead of 30 dolls, and maybe the two dolls will cost a couple of bucks more,” he rationalized during a Cabinet meeting.
Vice President JD Vance later defended the remark by calling on Americans to exhibit more “self-reliance.” American families will also be happier as a result of the tariffs, he added, knowing that more U.S.-made weapons would be used in war.
“As an American parent, would you like to—God forbid, if your country goes to a war and your son or daughter is sent off to fight—would you like to know that the weapons that they have are good, American-made stuff, not made by a foreign adversary?" he said.
