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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Nike expects Trump tariffs to cost it $1bn

NIke Matthew Friend China United States
Nike running shoes
Nike said 95% of its footwear in 2024 was manufactured in Vietnam, Indonesia and China. Photograph: Chris Willson/Alamy

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.

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