Barbie maker raises prices due to Trump tariffs as Ford warns of $1.5bn cost

Barbie maker Mattel has said it will increase prices for some products in the US in response to Donald Trump’s tariffs while carmaker Ford said the US president’s measures would cost it about $1.5bn (£1.1bn) this year. The US represents about half of Mattel’s global toy sales, and the company imports about 20% of its goods sold in the country from China. The company said it was “taking pricing action” in its US business “where necessary” in response to the tariffs. Last week, General Motors, another of the “big three” Detroit carmakers with Ford and Stellantis, cut its profit guidance for the coming year and cautioned that Trump’s tariffs could cost it as much as $5bn in 2025. Many companies have stopped production and shipping to the US as a result of tariffs from China.