Nike will join the choir of companies to raise prices due to the start of President Trump’s tariff.
The company’s executive officials plan to increase the costs of clothes and equipment obtained from abroad. Price bumps will differ on different elements, with marks ranging from $ 2 to $ 10. The price of shoes will increase between $ 100 and 150 dollars by $ 5. A person familiar with the issue told The Hill.
The increases are scheduled to enter on June 1, almost a month before the start of the Trump tariff.
A temporary stop for a period of 90 days has been implemented on the customs tariffs of many countries, including Vietnam, where NIKE makes large parts of its products.
The president’s tariff of 46 percent on imports from the country is now 10 percent. China is facing another main product for NIKE, a 30 percent tariff for the elements that are exported to the United States
Full fees are scheduled to resume on July 8, which represents the end of Trump’s 90 -day stoppage on foreign duties.
A source familiar with NIKE plans, despite trade fluctuations, said the Jordanian brand, Air Force 1 shoes and children’s things will not see price changes. The products will not be less than $ 100.
“We are evaluating our business regularly and making pricing adjustments as part of our seasonal planning,” the company spokesman told The Hill.
Walmart and Apple are also expected to raise prices due to the beginning of definitions.