Nike to raise product prices because of Trump tariff effect

U.S. sports goods giant Nike is expected to raise the prices of its footwear, apparel, and equipment as early as this week because of the tariff impact on the retail industry, as CNBC reported on Wednesday. The prices will be raised no later than June 1, but the hike may be visible on shelves as early as this week, CNBC cited source. 

Earlier this month, the Footwear Distributors and Retailers of America sent a letter signed by 76 footwear brands, including Nike, Adidas, Skechers, and Under Armour, to the White House to ask for tariff exemption, saying that President Donald Trump’s tariffs pose an “existential threat” to the industry.