That was in response to a question about this comment from the Mattel Chairman who made the mistake of failing to kiss his feet appropriately as he spoke the truth that everyone knows:
BREAKING: Mattel CEO Ynon Kreiz just completely demolished Trump’s talking point on Tariffs, explaining why Tariffs aren’t going to bring manufacturing back to America.
CNBC: “If the tariffs come, would it be cheaper to manufacture toys in the United States?”
Kreiz: “We don’t see that happening. We believe that production in other countries — where we can be efficient and more productive — is the best balance between manufacturing outside of the US and continue to develop product, in terms of design and creativity, in America…
The 80% of toy production globally does happen in China. We have to remember that a significant part of toy creation happens in America — design, development, product engineering, brand management — all happens in America.
Making product in other countries allows us to create quality product at affordable price points.” This is why free, open trade is so important to American companies.
Mattel is the biggest toy company in the world. But that doesn’t matter. Trump wants Americans making those doll parts and until they do nobody can have any dolls. I guess. Who knows what’s really going through his mind these days?
Trump did announce a “deal” with great Britain today, essentially pulling back the UK tariffs to what they were before he lost his mind and carving out some exceptions for auto parts. Oh, and he’s keeping the 10% for no particular reason at all. Justin Wolfers had some choice words on this:
There was one bright spot in the announcement:
That’s nice. Meanwhile Trump once again demonstrates his simple mind:
That’s an interesting way of thinking. I guess if you can’t find any food to buy it’s a good thing because it means you still have your money? And then you’re rich? Except for the people who’ve lost their jobs who don’t have any money. And they’re poor. But that’s ok because sacrifice?
I wish one of the reporters who’ve had the opportunity to interview him in recent days would have just tried to pin him down on this stuff instead of flitting from subject to subject. I’m genuinely curious as to how he makes it make sense in his own mind. Or if his addled brain is just so disjointed that he doesn’t even know or care that it doesn’t make sense.