Doll-maker Mattel put out a first-quarter report indicating that they will be taking “mitigating actions” in an attempt to offset any price increase that may impact their goods due to President Donald Trump’s tariffs.
The Barbie maker has not yet been affected by the impacts of tariffs, but they are not letting that stop them from getting a plan in place.
“The company is operating in an uncertain macro-economic environment with significant volatility, including changes in global trade policy and U.S. tariffs,” their report reads.
“Although tariffs did not affect Mattel’s first quarter financial results, the company is taking mitigating actions designed to fully offset the potential incremental cost impact of tariffs on future performance,” the document continued.
Several suggestions were listed, including “Where necessary, taking pricing action in its U.S. business.” Others include diversifying the company’s supply chain in an effort to minimize “reliance on China-sourced product” and streamlining “product sourcing and product mix.”
“Given the volatile macro-economic environment and evolving U.S. tariff landscape, it is difficult to predict consumer spending and Mattel’s U.S. sales in the remainder of the year and holiday season,” the report adds.
Trump recently spoke about the potential impacts of his tariffs on families, saying children don’t “need 30 dolls.”
“I don’t think that a beautiful baby girl needs — that’s 11 years old — needs to have 30 dolls,” Trump said. “I think they can have three dolls or four dolls, because what we were doing with China was just unbelievable. We had a trade deficit of hundreds of billions of dollars with China.”
“I’m just saying, they don’t need to have 30 dolls. They can have three. They don’t need to have 250 pencils; they can have five.”
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Sierra Marlee is a millennial whose hunger for the truth in a world of fake news has led her to write. Marlee also contributes to BizPac Review.
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