Sportswear giant has already announced price increases to partly mitigate the impact of US President Donald Trump’s tariffs
Nike expects US tariffs on imports to add around US$1 billion to its costs, the sportswear giant said on Thursday, detailing how it aims to reduce its reliance on production in China and mitigate the impact.
But the company aims to cut the figure to a “high single-digit percentage range” by end-May 2026 by shifting production to other countries.
“We are partnering with our suppliers and our retail partners to mitigate this structural cost increase in order to minimise the overall impact to the consumer,” Friend added in a call with analysts.
Nike has also announced price increases to partly mitigate the impact of tariffs.
