Nike states that tariffs on US President Donald Trump’s leading business partners can add approximately $ 1bn (£ 730m) to this year’s cost.

Company officials also said that sportswear giant would cut dependence on goods production in China to reduce the impact of American trade policies.

Last month, Nike said it will increase prices on some trainers and clothes in the US from the beginning of June.The post -rival adidas warned that it would increase the cost of goods due to tariffs.

Both different, America and China say they agree to implement a trade agreement earlier this month.

This involves sending more rare earth metals in the US in exchange for lifting export restrictions in Beijing.

Nike shares increased extended trading by more than 10% after estimating a small decline in the first quarter revenue in the expectation of several analysts.

The company’s earnings for the last three months also estimated, despite being the worst quarter figures for more than three years.

Nike announced the revenue of the fourth quarter of $ 11.1bn – the lowest after the third quarter of 2022.

Chief Financial Officer Matthew Mitra said the firm would carry forward some production from China, which was killed with the biggest tariff growth in other countries in response to Trump’s tariff.

China currently produces a 16% nike footwear that ends in the US. Mr. Mitra said that by the end of May 2026, the figure will be cut into a “high-single percentage range”.

Trump announced the “Liberation Day” tariff on most goods in countries around the world on 2 April. Those plans included 46% on goods from Vietnam and 32% on 32% from Indonesia, even larger manufacturing hubs for nikes compared to China.

Later that month, he Most of those tariffs suspended To allow for interaction with affected countries, a top advisor promises “90 deals in 90 days”.

The move dropped the tariff to 10%, instead of facing goods from many business partners.

The White House is now facing increasing questions about what the President plans to do about Tariff, as the 90-day stop is about to end on 9 July.

In a comment at the White House on Thursday, Trump said that the conversation was going well, pointing to the agreement with China and said “coming with India, perhaps”.

But he also warned: “We are not going to deal with everyone.

“Some we are just going to send them a letter, say,” Thank you very much. You are going to pay 25, 35, 45%. ” This is an easy way to do, “he said.

He said, “My people don’t want to do this.

Treasury Secretary Scott Besent has earlier extended the possibility that Trump can expand the deadline, it depends on how the dialogue is going on.

On Thursday, White House spokesman Karolin Levit stated that the deadline was “not significant” and Trump was designed to present the countries with “deals” that would determine the new tariff rates.

The US and China announced an agreement earlier this month, aimed at ensuring important magnets and rare Earth’s American supply, the concerns about access to reach the risk of increasing trade tension between two economic superpowers.

At the White House on Thursday, Trump said he had “signed” without making a deal with China. A White House official later said, “Administration and China agreed to an additional understanding for an infrastructure to implement the Geneva Agreement.”

The trade between the two sides was almost closed after Trump lifted the tariff and China returned to a barrage in Tariff in April, which almost closed the trade between the two countries.

America and China later agreed to reduce – but did not end – those tariffs.