Fri, 27 Jun 2025

Fri, 27 Jun 2025 Nike says Trump tariffs could raise its costs by $1bn

Company executives say the sportwear giant will cut its reliance on producing goods in China to ease the impact of US trade policies.

* Nike's costs could rise by $1bn (£730m) this year due to US President Donald Trump's tariffs on key trading partners.
* The company plans to cut its reliance on producing goods in China, with 16% of Nike footwear currently manufactured there for the US market.
* By the end of May 2026, Nike aims to reduce production in China to a "high single-digit percentage range".
* Despite facing its worst quarterly revenue figures in over three years, Nike's earnings topped estimates and shares jumped by more than 10%.
* Trump announced tariffs on most goods from countries around the world on April 2, but later suspended them for talks with affected countries.
* The White House is now facing questions about what will happen when the 90-day pause expires on July 9.
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