Mattel plans price hikes amid tariff pressures

Mattel Inc., the maker of Barbie and Hot Wheels, announced it would raise prices on some U.S. toys to offset higher costs from President Donald Trump’s tariffs on Chinese and other imported goods. The company also withdrew its annual and 2025 financial forecasts, citing increased uncertainty and volatility in consumer spending due to the evolving tariff landscape. Mattel is accelerating efforts to shift manufacturing out of China and is supporting industry lobbying for zero tariffs on toys. Despite reporting better-than-expected first-quarter sales, Mattel’s quarterly loss widened, and it will cut promotions and discounts to save costs. The tariffs, part of a broader U.S.-China trade war, have disrupted global supply chains and affected peers differently, with Hasbro maintaining its forecasts. Mattel's shares fell following the announcements, reflecting investor concern over the financial impact and unpredictability caused by the tariffs.