Nike expects Trump tariffs to cost it $1bn
by Mark Sweney from US news | The Guardian on (#6Y92A)
Sportswear company to reduce manufacturing in China to soften the impact of US trade policies
Nike has said it expects costs to increase by about $1bn (728m) as a result of Donald Trump's tariff war as the sportswear company looks to reduce its manufacturing in China.
The market value of the company has dropped by a third over the past year and it is taking action to reduce the hit, including increasing prices in the US and sourcing from other countries.
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