The US President Donald Trump said he would maintain high tariffs on goods from toy manufacturer Mattel, despite the company moving its production out of China.
NBC News and the Independent write about this.
Mattel CEO Inon Kreitz said this week that the company is looking to move more production out of China but doesnʼt see the possibility of moving it to the United States.
He said that even with tariffs, costs in the US are too high to produce affordable toys even for the American consumer.
"Nothing, let him go. Weʼll put a 100 percent tariff on his toys, and he wonʼt sell any toys in the United States, which is their biggest market. I heard that, I mean, I saw this guy talking about how he was going to oppose me. I said, ʼWell, I wouldnʼt want to have that kind of leader for a long time,ʼ" Trump said.
About 20% of Mattelʼs toy imports to the US come from China. Kreitz said the company hopes to reduce that to 15% next year and to 10% or less by 2027. Mattel is moving production of 500 of its toys from China to other locations, such as India, this year.
Trumpʼs tariffs
Donald Trump announced on April 2 that he would impose tariffs on goods from other countries. The new tariffs cover more than 180 countries and territories (not including Russia, North Korea, Cuba, and Belarus, which are already under sanctions). A 10% tariff was imposed on Ukraine.
As early as April 9, Trump postponed tariffs on all but China, which received the highest tariffs of 145%, while most countries are subject to a base rate of 10%. And in mid-April, Trump threatened to impose tariffs of 245% on China.
Starting April 3, car imports to the US will be subject to a 25% tariff on top of the previous 2.5% levy. Starting in May, 150 categories of auto parts were also to be subject to additional tariffs.
Already on April 22, the US imposed new tariffs on imports of solar panels from four Southeast Asian countries — for Cambodia, a tariff of 3,521% will be set, for manufacturers from Malaysia — 34.4%, from Vietnam — 395.9%, and from Thailand — 375.2%.
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