As far as its efforts to address tariffs, Kreiz said that the company is also focused on diversifying its global supply chain to reduce its reliance on China. The Mattel chief claimed in the conversation today that in two years, no single country will represent more than 25% of Mattel’s sourcing.

Toy-maker Mattel Inc. on Monday said it plans to raise prices in the U.S. “where necessary” on some toys and take steps to rely less on China for production, while pausing its full-year outlook as it tries to get a handle on the impact of the global trade war.

Toy makers say toys are an important part of a child's growth and development, but President Trump insists children don't need as many toys.