Nike announced it will be raising prices for apparel and equipment sourced from overseas in response to President Donald Trump's tariffs.
Company executives plan to boost costs on a variety of items ranging from $2 to $10, The Hill reported Wednesday, citing a person familiar with the matter. Footwear priced between $100 and $150 will increase by $5, and shoes priced at more than $150 could face a $10 price hike.
"We regularly evaluate our business and make pricing adjustments as part of our seasonal planning," a company spokesperson told The Hill.
Trump has issued a 90-day pause on reciprocal tariffs for several nations, including Vietnam, where half of all Nike's shoes are reportedly manufactured. Vietnam is also Nike's largest apparel manufacturing hub, contributing 28% of global production, followed by China (16%), and Cambodia (15%).
Trump's planned 46% tariffs on Vietnam now stand at 10%, but the reciprocal tariffs are set to resume July 8 provided the U.S. and trade partners don't reach an agreement before then.
Trump also imposed a 34% tariff on imports from China, another major producer for Nike, but those also have been suspended for 90 days, remaining at 10% pending an agreement. But Trump has not rescinded tariffs imposed on China related to the fentanyl national emergency invoked through the International Emergency Economic Powers Act, and Most Favored Nation tariffs.
Nike's price hikes are set to begin June 1, The Hill reported, about a month before the end of the pauses on reciprocal tariffs. A source familiar with Nike's plans told The Hill that despite trade fluctuation, the Jordan brand, Air Force 1 shoes and children's items will not affected by the price increases, as well as products costing less than $100.
Apple and Walmart also are expected to raise prices because of the tariffs, according to The Hill.