- Shares of Mattel, Hasbro, Jakks and Funko rallied on Monday after the U.S. agreed to temporarily reduce tariffs on China.
- The agreement will pause most tariffs and other trade barriers for 90 days, including reducing the 145% levy President Donald Trump had in place on Chinese imports to 30%.
- The toy industry is heavily reliant on supply chains in China, leaving toy makers at the mercy of trade policy.
Shares of major toy makers rallied on Monday after the
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WATCH HEREThe agreement will pause most tariffs and other trade barriers for 90 days, including reducing the 145% levy President Donald Trump had in place on Chinese imports to 30%.
Shares of jumped more than 10% Monday, traded up 6.5%, rose more than 15% and soared a whopping 46.4%.
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SIGN UP The rally pushed shares of Hasbro above their trading level from early April, before Trump first announced his "reciprocal tariffs" on dozens of trade partners. The rest of the toy stocks are still trading below their April 1 closing prices.
The stocks had been hammered by Wall Street as investors anticipated manufacturing hiccups and resulting from the tariff scheme. The toy industry leaving toy makers at the mercy of trade policy. Bank of America estimates both Mattel and Hasbro source about 40% of their U.S. product from China.
Last month, Hasbro estimated it would see as much as a if Trump's 145% China duty held.
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Mattel, too, warned last week that it was taking mitigating actions to fully offset costs associated with Trump's trade war with China,
Both companies had previously issued forecasts that assumed 25% tariffs on Chinese imports. Mattel retracted its guidance earlier this month, citing macroeconomic volatility and uncertainty surrounding U.S. tariffs. Hasbro, meanwhile, maintained the full-year guidance it issued last quarter, but warned investors about the uncertainty of the current tariff environment.
Representatives from Hasbro, Mattel, Jakks and Funko did not immediately respond to C온라인카지노사이트's request for comment.
