Nike may have to change to pay more from doing that slogan.
The sneaker giant makes about half of the footwear in Vietnam. This was slapped at 46% tax as part of President Trump’s mutual tariffs announced Wednesday.
Those who want to pick up a pair of branded Air Jordan 1 high sneakers can pay an additional $18 in addition to the current $180 price tag after the new tariffs came into effect on April 9, an industry source told the Post.
According to a footwear news report, some of Nike’s other popular sneakers could also surge between $15 and $35.
UBS estimates that consumers will see prices for products coming from Vietnam rising by 10% to 12%, the report says.
Like the Nike Air Force 1, Nike sneakers for $115 are costly for the company to spend around $18 at its overseas factory.
Vietnam’s 46% tariff adds an additional $8.28 to the total cost per pair. This is added when multiplied by 8,000.
However, Nike could negotiate a deal with the factory to ease these costs. Alternatively, as many industry experts believe, tariffs change as the country negotiates transactions.
“This is a nightmare for consumer businesses,” industry sources said. “If these tariffs remain, you’ll have bankruptcy by the summer.”
Nike did not immediately comment on the potential price increases.
“Most brands, primarily manufactured in China, have tried to diversify their supply chains over the last few years,” says Gary Wassner, CEO of Hildun Corp., a lender for apparel companies. “Vietnam was one of the countries that brands were about to migrate (but) these tariffs undermining all of the advances in diversification.”
