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The Independent UK
The Independent UK
Rhian Lubin

Your Nike shoes are about to cost a whole lot more thanks to Donald Trump, company warns

Donald Trump NIke United States Matthew Friend Adidas Puma Under Armour

Nike warned that tariffs imposed by President Donald Trump will cost the company about $1 billion as it looks to make “surgical” price increases in the fall.

The company is shifting production away from China, where Nike makes about 16 percent of the footwear it imports into the U.S., Chief Financial Officer Matthew Friend told investors Thursday.

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