Nike set to raise prices between $2 and $10 on every item because of Trump’s tariffs

Nike shoes will likely see between a $5 and $10 price increase

Nike is set to increase the prices of its popular athletic shoes and apparel from $2 to $10 per piece in response to President Donald Trump’s incoming tariffs, according to a report.

The price hike will impact products sourced overseas, namely in Vietnam and China, a person familiar with the matter told The Hill.

Nike shoes currently priced between $100 and $150 are expected to see a $5 increase, while those priced above $150 could see a $10 up-charge, the source added.

The price increase will go into effect on June 1 – about a month before Trump’s tariffs are scheduled to be implemented.

Nike is set to hike the prices of their popular shoes and athletic wear ahead of Trump’s tariffs going into effect, according to a report (Copyright 2022 The Associated Press. All rights reserved)

Nearly all of Nike’s sneakers, apparel, and other goods are produced in Asia, which has been a primary focus of Trump’s tariff policy.

Vietnam, where Nike manufactures a large percentage of its products, is currently facing a 10 percent tariff under Trump’s plan. Meanwhile, China, which is also a major producer for Nike, faces a 30 percent tariff on goods coming into the U.S., the report said.

Following Trump’s announcement early last month that there would be a 90-day pause of his so-called “reciprocal” tariffs, the levies are currently set to go into effect on July 8.

Despite the turbulent trade market, the source told The Hill that Nike’s popular Air Force 1 shoes, as well as its kids’ merchandise, would not see price adjustments.

“We regularly evaluate our business and make pricing adjustments as part of our seasonal planning,” a Nike spokesperson said.

Nike is not the only major retailer expected to hike prices to counteract the incoming tariffs.

The mega retailer Walmart has said it will do its best to keep prices low for as long as possible, but warned it may have to raise prices, too.

The company’s comments come after Trump told them to “eat” the additional cost of tariffs without passing them on to customers.