Trainer prices will rise due to tariffs, says Adidas
Summary
The sportswear company Adidas has announced that the cost of their trainers in the United States may increase due to tariffs imposed by the US government. Adidas's CEO, Bjorn Gulden, explained that since their products are mostly not made in the US, these tariffs would lead to higher product costs.Key Facts
- Adidas warned that the cost of their trainers in the US may go up.
- The reason for the potential price rise is the import taxes imposed by the US government.
- Adidas largely does not produce their products in the US.
- Clothing manufacturers like Adidas, which use labor from countries like China and Vietnam, are heavily affected by these tariffs.
- The final amount of the price increase is not yet known.
- Adidas doesn't know what the final tariffs will be due to ongoing negotiations between the US and exporting nations.
- Adidas, among other shoe brands, have large factory outlets in South East Asia.
- In an attempt to lessen the impact of tariffs, Adidas previously increased its exports to the US and redirected products meant for the US to other markets.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.