Overview

• President Trump has repeatedly used a 'doll analogy' to frame consumer sacrifices under his tariff policies, suggesting children can be happy with fewer toys despite higher costs.
• Treasury Secretary Scott Bessent defended the analogy, claiming long-term economic benefits for families, but GOP lawmakers criticized it as tone-deaf and politically unhelpful.
• The toy industry, led by Mattel’s CEO, warns of potential shortages and price hikes due to tariffs, with port authorities reporting declines in transpacific shipments.
• The White House is testing alternative metaphors, such as likening the U.S. to a 'shopkeeper,' in an effort to find a more resonant narrative for its trade strategy.
• Negotiations with China remain stalled, with no talks currently underway, while tariffs on Chinese goods stay at record levels, exacerbating economic uncertainty.