Are you a Nike customer? Then this information is for you! The company, known for selling athletic footwear and apparel, has announced that it will soon increase the prices of its products, as has happened with other brands. Here’s when it will happen and how much the items will cost.
When Will Nike Increase Its Prices?
According to the company, the price hike will take effect starting June 1, 2025.
How Much Will Nike Footwear and Apparel Cost?
After the price adjustment, Nike products will be priced as follows:
- Footwear priced at $150 or more will see an increase of $10
- Products between $100 and $150 will go up by $5
- Adult apparel and gear will increase by $2 to $10
The company clarified that not all products will be affected by this price change. Shoes priced under $100 will maintain their current price, as will the Air Force 1 sneakers, which retail for $155.
Why Is Nike Raising Its Prices?
So far, Nike has not disclosed the exact reason for the price hike, only stating that it is the result of a reevaluation of its business strategy. However, it may be related to the impact of new tariffs recently imposed by U.S. President Donald Trump, which have already begun affecting various companies across different economic sectors.
Around 50% of Nike’s footwear is manufactured in Vietnam and China, with China being the country most affected by the tariffs.
Why are the United States and China in a tariff war?
It all began on February 1, when U.S. President Donald Trump announced a 10% tariff on all imports from China, as well as the elimination of the de minimis exemption, which had allowed the Asian country to make certain tax-free imports.
Later, on April 2, Trump ordered a 10% tariff on imports from all countries. Two days after that, China responded by imposing a reciprocal 34% tariff on all U.S. imports.
That was just the beginning. On April 8, Donald Trump increased the tariff on Chinese goods to 84% and reiterated his plan to eliminate the de minimis exemption on May 2. China did not remain idle—it then announced an 84% tariff on U.S. imports. The Trump administration responded by raising its tariffs on Chinese goods to 125%, and China matched the figure with its own 125% tariff on U.S. products.
What are tariffs?
Tariffs are taxes imposed on the import of goods. These tariffs benefit locally manufactured products by giving them a competitive price advantage over similar imported products. They also represent a source of revenue for governments.
Why is Donald Trump imposing tariffs?
President Donald Trump has stated that tariffs are a key component of his economic strategy, as he seeks to promote manufacturing in the U.S., protect jobs, increase tax revenues, and stimulate economic growth.
Trump aims to revitalize and rebuild the U.S. manufacturing industry, which has lost many jobs over the past 40 years, largely due to the transfer of these jobs to countries with lower wages, such as Mexico or China. Additionally, the president believes that the U.S. is facing a significant trade deficit and that other nations are taking advantage of the opportunity to sell their products to U.S. consumers.
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Which Stores Have Raised Their Prices Due to Tariffs?
Several companies in the United States have started to raise their prices in response to the recent tariffs. Others are planning to do so soon. Some of the retailers that have already implemented or are expected to implement price increases include:
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Walmart
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Temu
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Shein
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Target
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Best Buy
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Adidas
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Mattel
