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,

US toy manufacturer Mattel on Monday said it plans to raise prices on some products sold in the United States in response to tariffs imposed by President Donald Trump, as the company accelerates efforts to shift production out of China.

Mattel, maker of Barbie dolls, outlined steps Monday to mitigate the impact of President Trump’s tariffs, saying that “when necessary,” the company is prepared to adjust its prices to make up for potential losses.