Nike to Raise Prices Amid $1B Tariff Hit & Cut China Dependency

Nike plans to raise prices in the U.S. starting this fall to offset $1 billion in new tariff costs, part of a broader strategy that includes reducing its reliance on Chinese manufacturing. The company said 16% of its U.S. footwear imports currently come from China, a figure it aims to cut to the high single digits by the end of FY 2026. Despite a 10% revenue decline in FY 2025, Nike beat earnings expectations and expects the tariff impact to be most significant in the first half of FY 2026.