Tue, 06 May 2025

Tue, 06 May 2025 Car giant Ford and Barbie maker Mattel warn over tariffs costs

The firms join a growing list of big businesses cautioning about the impact of Trump's import taxes.

* Mattel will increase prices on some toys in the US due to Trump's tariffs, which have increased its costs.
* The company will cut Chinese imports to the US from 20% to below 15% by next year.
* Ford says it will pay around $1.5bn (£1.13bn) in additional costs this year due to tariffs on Mexican and Chinese imports.
* Mattel's US sales account for about half of its global toy sales.
* The company warns that the uncertain trade environment makes it difficult to predict consumer spending.
* Trump has imposed new import taxes of up to 145% on goods from China, with levies reaching 245% when added to existing tariffs.
* China has retaliated with a 125% tax on products from the US.
* Several major companies, including Intel, Adidas, and Procter & Gamble, have warned about the impact of US tariffs on their businesses.
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