Donald Trump threatened to impose 100 percent tariffs on toy-maker Mattel after the company said it would diversify its production to other countries, but not the United States.
CEO Ynon Kreiz has said Mattel is looking to shift more production out of China, but doesn’t see it moving to the U.S.
During the company’s first-quarter earnings call, Mattel CEO Ynon Kreiz said the tariff-driven price hike was one of the three “mitigating actions” the company had been forced to take in response to the tariffs, alongside a reduction in its dependence on China-sourced products and a broader diversification of its supply chain.
“That’s ok. Let him go, and we’ll put a 100 percent tariff on his toy, and he won’t sell one toy in the United States, and that’s their biggest market,” Trump said.
Trump continued to criticise Kreiz saying he “wouldn’t want to have him as an executive too long.”
Call to Activism shared the clip and wrote: “BREAKING: In a completely unhinged moment, Trump threatens the “country” of Mattel Toys with a 100% tariff if they counter his policies. He threatens that they wouldn’t be able to sell one toy in the USA. Is Donald Trump deranged?”
Reactions
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“I think the island of Mattel Toys is part of an archipelago with The Island of Misfit Toys, which is where Trump got many of his Cabinet appointees, and Penguins Island, which has yet to come to the table and still faces crushing tariffs from the US. They’ll break soon though!”
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“Is he saying that the American company Mattel threatened to do their business in a different country and Donald threatened to throw a 100% tariff on whatever country Mattel moves to? That sounds a lot like abuse of power and coercion.”
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