Nike will join the chorus of companies slated to raise prices due to the onset of President Trump’s tariffs.
Company executives are planning to increase costs for apparel and equipment sourced from overseas. Price bumps will vary on different items, with markups ranging from $2 to $10. Footwear priced between $100 and $150 will increase by $5. Shoes priced above $150 could face a $10 upcharge, a person familiar with the matter told The Hill.
Increases are set to go into effect by June 1, roughly a month prior to the onset of Trump’s tariffs.
A 90-day pause was implemented on reciprocal tariffs for several nations, including Vietnam, where Nike manufactures large portions of their products.
The president’s 46 percent tariff on imports from the country now stands at 10 percent. China, another major producer for Nike, faces a 30 percent tariff on items exported to the U.S.
Levies are set to resume at full force on July 8, marking the end of Trump’s 90-day pause on foreign duties.
A source familiar with Nike’s plans said, despite trade fluctuation, the Jordan brand, Air Force 1s and kids' items will not see price changes. Neither will products under $100.
“We regularly evaluate our business and make pricing adjustments as part of our seasonal planning,” a company spokesperson told The Hill.
Walmart and Apple are also expected to raise prices due to the onset of tariffs.
Read More Details
Finally We wish PressBee provided you with enough information of ( Nike to raise prices over Trump tariffs )
Also on site :
- ‘Up close and personal’ – Taylor Swift and Travis Kelce share intimate date night as onlooker gives insight into romance
- Bianca Censori Makes Major Career Move After Dropping Jaws With See-Through Outfit
- Exactly How Many Times a Week To Walk To Improve Your Heart Health, According to Cardiologists