Nike will join the chorus of companies slated to raise prices due to the onset of President Trump’s tariffs.
Company executives are planning to increase costs for apparel and equipment sourced from overseas. Price bumps will vary on different items, with markups ranging from $2 to $10. Footwear priced between $100 and $150 will increase by $5. Shoes priced at more than $150 could face a $10 upcharge, a person familiar with the matter told The Hill.
Increases are set to go into effect by June 1, roughly a month prior to the onset of Trump’s tariffs.
A 90-day pause was implemented on tariffs for several nations, including Vietnam, where Nike manufactures large portions of their products.
The president’s 46 percent tariff on imports from the country now stands at 10 percent. China, another major producer for Nike, faces a 30 percent tariff on items exported to the U.S.
Levies are set to resume at full force on July 8, marking the end of Trump’s 90-day pause on foreign duties.
A source familiar with Nike’s plans said, despite trade fluctuation, the Jordan brand, Air Force 1 shoes and kids’ items will not see price changes. Neither will products of less than $100.
“We regularly evaluate our business and make pricing adjustments as part of our seasonal planning,” a company spokesperson told The Hill.
Walmart and Apple are also expected to raise prices due to the onset of tariffs.
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