Customers sue Nike alleging $1B Trump-era tariff price hikes
Business
Nike is being sued by customers who say the brand raised prices on shoes and clothes (by $5 to $10 for footwear and $2 to $10 for apparel) to cover about $1 billion in tariffs from the Trump era.
Now, with those tariffs struck down earlier this year, people claim Nike hasn't promised to give back the extra money they paid.
Nike faces proposed class action
The lawsuit, filed May 8 in Portland, is a proposed class action, but Nike hasn't responded yet.
Other big companies like Costco are facing similar cases.
If the court doesn't step in, Nike could end up keeping both the higher prices from shoppers and any government refunds, so this case could really impact its future earnings.