Toy manufacturer Mattel alerts customers to upcoming increases in Barbie prices.

Mattel, the manufacturer of Barbie dolls, has announced it will raise the prices of some of its toys in the United States due to the increasing costs resulting from President Donald Trump’s tariffs. The company also plans to reduce the number of products it manufactures in China for the American market. Ford, a major car manufacturer, has also stated that the tariffs will result in an estimated loss of $1.5 billion (£1.13 billion) for the company this year. Many other big businesses are also expressing concern about the impact of US tariffs on their operations and the overall economy. Mattel highlighted the challenges of predicting consumer spending in the current economic environment and the evolving US tariff landscape. The company currently imports about 20% of its products sold in the US from China and intends to decrease this percentage to below 15% by the next year. Trump has implemented new import taxes ranging from 10% to 145% on goods from China. Ford expects the tariffs to increase its overall costs by $2.5 billion this year, primarily due to the higher expense of Mexican and Chinese imports. The company has, however, been able to cut $1 billion of the added costs by implementing various measures. Intel, Adidas, Skechers, and Procter & Gamble have also reported the impact of tariffs on their businesses, with concerns about the unpredictability of trade policies and the potential risk of an economic slowdown or recession. Sportswear companies Adidas and Skechers warned that tariffs would lead to higher prices in the US for popular trainers. Procter & Gamble, which manufactures products such as Ariel laundry detergent, Head & Shoulders shampoo, and Gillette shaving products, is considering price adjustments to compensate for the extra cost of materials sourced from China and other regions.

Source: https://www.bbc.com/news/articles/cly1e7ll07do