Business • Jun 27, 2025

Nike forecasts $1bn loss due to Trump tariffs

Nike just warned that new US tariffs might add a whopping $1 billion to its costs in 2025.
To handle the pressure, Nike plans to cut back on shoes made in China—dropping imports from 16% of its US supply to single digits.
The company also hinted that shoppers might see higher prices soon.

TL;DR

Nike's CEO says worst trade impacts may be behind them

These tariffs, which started at 145% before being lowered to 30%, are pushing Nike to rethink where it makes its products.
Expect price hikes by autumn and more production moving outside China.
Even with these challenges (and their lowest quarterly revenue in over three years), CEO Elliott Hill feels the worst trade impacts may be behind them, and says Nike is focused on bringing down costs and reallocating production.