After President Trump announced sweeping tariffs on imported goods to the United States, Disney CEO Bob Iger commented about the impact of the tariffs on the country and Disney's businesses.
Even before we read the comments from Iger we were already beginning to consider how expected higher prices on goods would impact the Disney theme parks and the planned theme park expansions.
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Disney CEO Bob Iger's Comments on Tariffs
During a surprise appearance at a daily ABC News editorial meeting, Iger reportedly sounded the alarm on the President Trump liberation day tariffs. He reportedly “expressed concern about the impact an impending trade war may have on not just his company, but the American economy at large”. We were surprised to see these comments reported publicly and that Iger specifically mentioned part of the Disney theme park business.
This meeting was reported in Oliver Darcy's Status media newsletter and shared by The Wrap. He spoke to the editorial team about impacts of the tariffs on the country at large. He emphasized that relocating overseas manufacturing to the U.S. with any speed is impossible and that most people don't really understand how tariffs work. Staffers who were at the meeting suggested to Darcy that his comments were meant to push the editorial teams to provide helpful information to readers and viewers.
Following this discussion of the general coverage of the tariffs, Iger also then talked about the impacts of the tariffs on other lines of the Disney business. Darcy wrote that Iger's views were “unfiltered”.
Disney is currently in the middle of a decade of expansion to build new attractions at the theme parks and expand the Disney Cruise Line fleet of ships. They have announced that they will spend roughly $60 billion over the next decade to “turbocharge” their Disney Experiences business which includes both the cruise line and theme parks. See more about the new rides coming to Disneyland and the new rides coming to Disney World. When Disney first announced the investment, they described the investment saying they would “nearly double capital expenditures over the course of approximately 10 years to roughly $60 billion, including by investing in expanding and enhancing domestic and international parks and cruise line capacity”.
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Iger expressed concerns specifically for Disney Cruise Line and two new ships that rely on steel for their construction. These are likely two of the four additional cruise ships planned after the two new cruise ships come online at the end of this year – the Disney Destiny and the Disney Adventure.