Mattel CEO Ynon Kreiz said Tuesday in a CNBC interview that Trump's tariffs on Chinese goods are unlikely to bring toy manufacturing back to the U.S.. Kreiz emphasized that critical toy design and development already occur domestically. Kreiz appeared on CNBC’s Squawk Box one day after Mattel withdrew its annual financial targets, citing continued global supply chain diversification efforts. By year-end, under 40 of Mattel’s sourcing will come from China, and no country will exceed 25 of sourcing within two years. To offset tariff-related costs, Mattel plans to raise prices in the U.S. but aims to keep 40 to 50 of its toys under $20. Mattel’s stock has fallen about 19 since the tariffs were announced on April 2nd.