Nike announced that revenues in the fourth quarter amounted to $ 11.1 billion. As BBC notes, this is the lowest level from the third quarter of 2022. Financial Director Matthew Friend said that the company would transfer part of the production from China, which were affected by the largest duties' increases, to other countries in response to Trump's customs.
See also: Americans warn. Nike will be a great loser of Trump's duties
China currently produces 16 percent Nike footwear that goes to the USA. Matthew Friend stated that this number would be reduced to a “high one -digit percentage range” by the end of May 2026.
Last month, Nike announced that it would raise the prices of some training shoes and clothing in the USA from the beginning of June, a few weeks after competitive Adidas warned that it would have to raise the costs of goods due to customs.
Nike calculated how much he will lose on Trump's duties. The amount is huge
Separately, both the United States and China claim that they have agreed on the way the commercial agreement was implemented that they achieved earlier this month.
It includes Beijing sending more rare lands to the US in exchange for the abolition of export restrictions.
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Donald Trump announced on April 2 a wide -ended duties of “Liberation Day” for most goods from countries around the world. The White House is now in the face of growing questions about what the president plans to do with tariffs, because the 90-day break is expected to expire on July 9.
As BBC reports, in the statements in the White House last week, Trump maintained that the talks were going well, pointing to the agreement reached with China and saying that “maybe another with India is approaching.” But he also warned that he would not “conclude contracts with everyone.”
See also: Kim Kardashian and Nike's cooperation does not go according to plan
“We will simply send a letter to some and say: »Thank you very much. You will pay 25, 35, 45 percent «. It's an easy way” – said the US president, whose words are cited by the BBC.
In the White House on Thursday, Trump said that he “signed” a contract with China, without providing further details. “Administration and China agreed to an additional agreement regarding the framework of the implementation of the Geneva Agreement,” said the White House official later.
Treasury Secretary Scott Bessent has previously raised the possibility that Trump may extend the deadline, depending on the course of the talks.
