The American toy manufacturing company Mattel announced on Monday the suspension of its annual forecasts due to the increase in tariffs on imported products in the United States.
The company depends a lot on China, where it elaborates much of its toys. Washington imposed 145% customs rates to many Chinese products since April.
Beijing responded with 125% levies to the imported products of the United States.
Given the “uncertainty of the macroeconomic environment” and the “evolution of tariffs” is “difficult to predict the expense of consumers and sales of Mattel in the United States for the rest of the year and the Christmas season,” said the group in a statement on the occasion of the publication of its quarterly results.
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-Previously, the company had announced that it provided for a sales growth of between 2% and 3%.
But the commercial war without barracks launched by President Donald Trump, particularly against Beijing, forces the group to “suspend their forecasts by 2025 until (which) has enough visibility,” Mattel explained in his statement.
On April 30, Trump acknowledged that the crisis with Beijing could affect the supply and raise prices. The children may receive “two dolls instead of 30 and the best the two wrists will cost a few more dollars,” he said.
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