US president Donald Trump has threatened a rough 100 % tax on Mattel, the creator of Barbie dolls, after the firm said it would remain producing products globally despite plans to reduce reliance on Chinese exports. Speaking from the Oval Office next month Trump responded quickly to Mattel’s current decision to maintain offshore manufacturing. “ I’ve heard Mattel said,’ Well, we’re going to go counter, we’re going to try going someplace else. Let him go, ” he said of Mattel CEO Ynon Kreiz. “We’ll put a 100 % tax on his products, and he won’t buy one toys in the United States, and that’s their biggest market. ” Mattel just announced a “pricing activity ” in its US firm, blaming changes in international trade policy and taxes.
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During its first-quarter income call, Kreiz explained that the company was moving away from China as a fabrication hotspot, but not bringing businesses up to the US. He cited cost-efficiency and performance in other countries as reasons for keeping generation worldwide.
Toymakers are extremely worried about the effects of Trump’s business policy. With approximately 80 % of international toy manufacturing based in China, industry officials have urged the administration to free playthings from tariffs. The Toy Association warned of major problems and higher rates. Trump, but, brushed off those issues, saying that ladies don’t need some dolls. During an interview he said,” I don’t think that a beautiful baby girl needs—that’s 11 years old—needs to have 30 dolls. I think they can include three figurines or four puppets because what we were doing with China was simply unbelievable. We had a trade imbalance of hundreds of billions of dollars with China. ” Reacting to the rate hikes and similar moves by ford Ford, Trump said, “ I think they’re simply saying that to negotiate discounts with me. ”
