The cost might rise for Barbie dolls, Hot Wheels cars and other Mattel products due to the Trump administration's handling of tariffs on goods produced in China, Mexico and Canada. Mattel officials in the company's 2024 financial results report released Tuesday cite the proposed 25% tariff on goods produced in Mexico and Canada and a 10% increase on goods produced in China as having a potentially negative effect on the company's investors and the cost of its products.

Mattel could soon raise the prices of toys such as Barbie and Hot Wheels in response to new tariffs imposed by President Donald Trump, executives said Tuesday.