Barbie maker warns of price hikes as tariffs increase costs

Barbie shaper Mattel says it volition enactment up the prices of immoderate of its toys successful the US arsenic President Donald Trump's tariffs summation its costs.

The steadfast besides says it volition chopped the fig of products it makes successful China for the American market.

At the aforesaid time, car making elephantine Ford says the levies volition outgo it astir $1.5bn (£1.13bn) this year.

They articulation a increasing database of large businesses informing astir the interaction of US tariffs connected their companies and the wider economy.

"Given the volatile macroeconomic situation and evolving US tariff landscape, it is hard to foretell user spending, and Mattel's US income successful the remainder of the twelvemonth and vacation season," Mattel said arsenic it updated investors connected its fiscal performance.

The US accounts for astir fractional of Mattel's planetary artifact sales. It imports astir 20% of its goods sold determination from China.

The institution said it plans to trim those Chinese imports to the US to beneath 15% by adjacent year.

Since returning to the White House successful January, Trump has imposed caller import taxes of up to 145% connected goods from China.

His medication said past period that erstwhile the caller tariffs are added connected to existing ones, the levies connected immoderate Chinese goods could scope 245%.

China has deed backmost with a 125% taxation connected products from the US.

Apart from China, Mattel imports products – including Barbie dolls and Hot Wheels cars – from Indonesia, Malaysia and Thailand.

The 3 countries were besides deed with steep tariffs by Trump successful April, earlier they were paused for 90 days.

Last week, Trump acknowledged the imaginable interaction of tariffs. American children mightiness "have 2 dolls alternatively of 30 dolls", helium said, but added that China would endure much than the US.

Carmaker Ford said it expected tariffs to adhd $2.5bn to its wide costs this year, chiefly owed to the accrued disbursal of Mexican and Chinese imports.

But the steadfast said it had chopped astir $1bn of those added costs by taking assorted measures, including transporting vehicles from Mexico to Canada to debar US tariffs.

The steadfast besides suspended its yearly net guidance to investors due to the fact that of uncertainty astir Trump's commercialized policies.

In April, firms including exertion elephantine Intel, footwear makers Adidas and Skechers, and user goods radical Procter & Gamble elaborate the interaction of tariffs connected their businesses.

"The precise fluid commercialized policies successful the US and beyond, arsenic good arsenic regulatory risks, person accrued the accidental of an economical slowdown with the probability of a recession growing," Intel's main fiscal serviceman David Zinsner said during a telephone with investors.

Sportswear elephantine Adidas warned tariffs would pb to higher prices successful the US for fashionable trainers, including the Gazelle and the Samba.

The concern main of footwear steadfast Skechers, David Weinberg, told investors: "The existent situation is simply excessively dynamic from which to program results with a tenable assurance of success."

And Procter & Gamble – which makes Ariel laundry detergent, Head & Shoulders shampoo and Gillette shaving products – said it was considering changes to its prices to marque up for the other outgo of materials sourced from China and different places.