- Mattel CEO Ynon Kreiz told CNBC he does not foresee toy manufacturing coming to America.
- Instead, the company expects to raise prices in the U.S. to offset President Donald Trump’s 145% tariff on Chinese imports.
- By the end of the year, less than 40% of Mattel’s product will be sourced from China, with a goal of reducing that to below 25% in the next two years.
One of the goals of President Donald Trump‘s 145% tariffs against China is to drive manufacturing back to America. But the odds of that are low, at least when it comes to toys.
“We don’t see that happening,” Mattel CEO Ynon Kreiz said on CNBC’s “Squawk Box” on Tuesday, less than a day after the company withdrew annual financial targets.
“We need to remember that a significant part of toy creation happens in America,” he said. “Design, development, product engineering, brand management all happens in America. Making product, producing product in other countries, allows us to create quality products at affordable price points.”
Mattel CEO says toy manufacturing won’t come to America, but price hikes will
Mattel CEO Ynon Kreiz says toy manufacturing will not come to America, but price increases will.
https://www.cnbc.com/2025/05/06/mattel-ceo-toy-manufacturing-trump-tariffs.html