With President Trump warning that his tariff policy may cause the price of toys to spike, a Barbie with swimsuit accessories that cost $10.49 on April 16 is now selling at Target for $14.99 — marking a 43% increase and perhaps a sign of things to come.
While it’s unclear if the higher cost is directly linked to tariffs, NYC consumer research firm Telsey Advisory Group said the Barbie’s price hike was among the biggest jumps the agency tracked last month.
Target has not returned a request for comment.
But according to CNN, toymaker Mattel reportedly confirmed its plans to raise the cost of its products in the coming months — and more expensive Barbies would seem likely.
Company CEO Ynon Kreiz told investors during a Monday earnings call that raising prices on toys and games isn’t something he wants to do, but it may be necessary to mitigate future losses.
Another way Mattel intends to address “current scenarios” is by moving the production of 500 toys made in China to other countries. The U.S. will reportedly not be one of those places.
The roughly 80-year-old company also plans to cut U.S. imports from China to less than 15% in 2026.
It’s Trump’s belief that slapping a whopping 145% tariffs on most goods coming from China will bring more manufacturing jobs to the U.S. However, he warned supporters the aggressive strategy wouldn’t come without consequences.
“Maybe the children will have two dolls instead of 30 dolls,” he said at the close of a cabinet meeting last week. “And maybe the two dolls will cost a couple of bucks more than they would normally.”
Mattel CFO Anthony DiSilvestro reportedly said on Monday’s call that the current tariffs implemented by the Trump administration will cost the company at least $270 million in 2025 alone.
The Toy Association warned on April 18 that many retailers are already delaying or canceling orders for the Christmas season. The trade association believes tariffs could significantly hurt small and large toy sellers alike.
Chinese companies account for 80% of toys entering the U.S., the association said.
Originally Published: May 6, 2025 at 7:15 PM EDT
