Nike is joining a number of businesses in planning to increase prices in response to President Trump’s upcoming tariffs.
Executives at the company are looking at boosting prices for apparel and equipment made overseas. The increases are not uniform; they range from $2 to $10 depending on the item. For shoes, prices will go up by $5 if they fall between $100 and $150, while shoes priced above $150 may see a $10 increase.
This price hike is anticipated to begin on June 1st, shortly before the tariffs take effect.
A 90-day suspension of mutual tariffs is currently in place in various countries, including Vietnam, which is where Nike manufactures a significant portion of its products.
The tariff rate from Vietnam, which has been set at 46%, is temporarily at 10%. In contrast, items from another key producer, China, face a 30% tariff when exported to the US.
The suspension on tariffs will conclude on July 8th, resuming full taxation as Trump’s temporary relief period comes to an end.
According to insiders familiar with Nike’s strategy, certain products, like Air Force 1 shoes and children’s apparel, will not experience any price adjustments, despite being typically valued over $100.
“We routinely review our business operations and make pricing adjustments as part of our seasonal strategies,” a spokesperson explained.
Other major companies, including Walmart and Apple, are also anticipated to raise their prices in light of these tariffs.
