Key Takeaways Mattel, the company behind Hot Wheels, and Hasbro, which sells Play-Doh and Monopoly, have backed the Toy Association's campaign to exclude toys from tariffs.The toy giants do less of their manufacturing in China than the broader industry,

Mattel Inc. says it will have to raise prices for some products sold in the U.S. “where necessary” to offset higher costs related to President Donald Trump’s tariffs.

The maker of Barbie and Hot Wheels- Mattel (NASDAQ:MAT) said that it will raise prices on some toys in the U.S. to offset sharply higher costs due to new tariff