Nearly a month has passed since the tariffs implemented by the Trump administration took effect, only to be partially reversed afterwards. Several companies have felt the impact, but Hasbro is not among them for the most part.

During the company’s recent investor call, CEO Chris Cocks stated that the company is “well positioned” given the current state of global trade. The majority of its games business is digital, and its board game division is primarily manufactured domestically. Wizards of the Coast, which is responsible for Dungeons & Dragons and Magic: The Gathering, has “low tariff exposure” due to its domestic supply chain in Texas and North Carolina, as well as international manufacturers in Kyoto, Japan, and Europe, all of which are exempt from the tariffs.

Although China has been significantly affected by the tariffs, it remains a major manufacturing hub for Hasbro. Notably, the D&D boxed sets are the only Wizards-related products imported from China. Cocks acknowledged that the company has been navigating “more complex logistics” and expressed a desire for a “more predictable and favorable U.S. trade policy environment.” He also emphasized Hasbro’s support for the Toy Association’s advocacy of zero tariffs on toys and games globally, whether for U.S. exports or imports.

Cocks further explained that “ultimately, tariffs lead to higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders.” Despite this, the company’s guidance remains unchanged, thanks to the strength of its games and licensing businesses, as well as its strategic flexibility. However, prolonged tariff conditions could lead to structural costs and increased market unpredictability.

For now, Hasbro is not overly concerned about the impact of tariffs on its Wizards products. According to Cocks, Magic experienced a “surging business” in the first quarter of 2025-2026, contributing significantly to the division’s 46% revenue growth.

Cocks attributed the card game’s success to its “continued strength in licensing,” particularly the upcoming crossover with Final Fantasy. The Universes Beyond set, scheduled for release on June 13, has already broken records with its pre-orders, making it the best-selling Magic set to date.

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