Name: Nike soars on a production shift away from China
Uploaded: 2025-06-28T03:38:54+00:00
Duration: 52 s
Description: Nike shares surged 15% Friday after the company announced plans to shift production away from China to reduce exposure to U.S. tariffs, which are expected to cost the company $1 billion. Starting this

5 months ago

News

Nike shares surged 15% Friday after the company announced plans to shift production away from China to reduce exposure to U.S. tariffs, which are expected to cost the company $1 billion.

Starting this fall, Nike will implement targeted price increases in the U.S. to offset the impact.

The company said it will reduce China-based production from 16% to single digits by 2026, the Associated Press has reported.

Despite reporting better-than-expected earnings, Nike faces slowing consumer spending and rising economic uncertainty, along with brand fatigue and growing anti-U.S. sentiment in China.

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