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Thursday, February 27, 2020
Mattel, Hasbro surge after US delays tariffs on China-made toys
Saturday, Aug 24, 2019 by 0 7 Months ago star
Shares of major toy makers Mattel and Hasbro rose on Tuesday after the United States Trade Representative announced it was delaying proposed tariffs that would have applied to toys.

Mattel shares rose 4.64%, while Hasbro climbed 2.75%. Hasbro, which has a market value of $14.7 billion, has gained 43% so far this year, while Mattel, which has a market value of $4 billion, has gained 15% during the same period.

President Donald Trump announced earlier this month that a 10% tariff would go into effect on Sept. 1 on a list of items, including toys. The USTR said in a statement Tuesday that the tariffs on some items, including “certain toys,” will be delayed until Dec. 15 or removed.

The timing of the tariffs were a particular source of concern for the toy companies. September is a key shipping month for those... read more...  comments [0]
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