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.

Shares of Mattel Inc. jumped after hours on Tuesday after the toy maker forecast an adjusted per-share profit for this year that came in above analysts’ expectations, as it takes actions — including potential changes to its prices — to offset a fresh round of tariffs from President Donald Trump.