If President Trump is the way, hot wheel toys can be much more expensive. On Thursday, the president threatened that his CEO had threatened to impose a 100 % tariff on hot wheels’ company Metal, after promising to diversify its production in other countries (but not the United States).
“Let them go and we will put 100 percent tariffs on his toys, and he will not sell a toy in the United States, and this is his biggest market,” Trump told reporters in the White House on Friday, and this is his biggest market.
Photo from: Tim Stevens / Motor 1
The statement comes in response to A Cnbc An interview was held on Tuesday with Metal Chairman and CEO Yannan Crease. It is unlikely that the company will transfer the production to the United States, rather than make production diversify in other parts of the world to avoid 145 % tariffs on Chinese imports, Crease said. He also suggested only for buyers in the United States to increase prices.
“We need to remember that an important part of toy creation is in the United States,” said Crees. Cnbc. “Design, development, product engineering, brand management are all in the United States. Product making, producing products in other countries, allows us to make standard products at affordable prices.”
Most hot wheels in Malaysia produce toys, though model cars are also manufactured in Indonesia, Thailand and China. Right now, only 20 % of China’s entire toy production comes from China. The company is planning to bring the number 15 % and 10 % by 2027 by next year, Crease says.
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The crease told Cnbc That Metal is expected to keep his products less than $ 40 to 50 percent, but tariff excitement prices are likely to increase.
Trump denied, eliminating the advice that prices could rise due to prices.
“Often, the country raises them, most of the time, Trump said at the Oval Office on Thursday, most people pick it up, people do not raise it.”
As if Free Pointing, global economists agree that revenue affects consumers, as companies increase prices to meet taxes on imported goods. This is the only story that is with real, original cars, where analysts expect the average transaction transaction cost for the vehicle to increase to $ 3,600.
When Metal did not respond immediately when arriving Motor 1 To comment on the president’s statement. If we listen, we will be sure to update this article.
