"Nike expects Trump tariffs to cost it $1bn", 27 June 2025

Nike has said it expects costs to increase by about $1bn (£728m) as a result of Donald Trump’s tariff war as the sportswear company looks to reduce its manufacturing in China.

The market value of the company has dropped by a third over the past year and it is taking action to reduce the hit, including increasing prices in the US and sourcing from other countries...

"With the new tariff rates in place today, we estimate a gross incremental cost increase to Nike of approximately $1bn. We intend to fully mitigate the impact of these headwinds over time.”...

“We have strong relationships with our factory partners, and our leadership team is experienced in managing through disruption,” Friend said. “Nike has consistently been a top payer of US duties. We will optimise our sourcing mix and allocate production differently across countries to mitigate the new cost headwind into the United States.”...

Mamta Valechha, an analyst at Quilter Cheviot, said: “Nike continues to slump, with its fourth quarter the worst in at least two decades.”...