Nike might have to change its slogan from Just Do It to Just Pay More.
The sneaker giant makes about half of it footwear in Vietnam, which was slapped with a 46% tax as part of President Trump’s reciprocal tariffs announced on Wednesday.
Those looking to pick up a pair of the brand’s Air Jordan 1 High sneakers could shell out an extra $18 on top of their current $180 price tag after the new tariff goes into effect April 9, industry sources told The Post.
Some of Nike’s other popular sneakers could also spike by between $15 and $35, according to a Footwear News report.
UBS estimates that consumers will see a 10% to 12% increase in the prices of goods that come from Vietnam, the report said.
A Nike sneaker that sells for $115 – like the Nike Air Force 1 – costs the company about $18 to make at a factory overseas, according to an industry expert who did not want to be identified.
The 46% tariff on Vietnam would add another $8.28 to the total cost per pair, which adds up when its multiplied by 8,000 – or the number of sneakers that can fit in to a shipping container.
But Nike is likely to negotiate deals with its factories to mitigate these costs — or as many industry experts believe, the tariffs will change as the countries negotiate deals.
“This is a nightmare for consumer companies,” said the industry source. “If these tariffs remain, by summer there will be bankruptcies.”
Nike did not immediately comment on the potential price increases.
“Most brands that manufacture primarily in China have spent the last few years attempting to diversify their supply chain,” Gary Wassner, chief executive of Hildun Corp. a lender to apparel companies told The Post. “Vietnam was one of the countries brands were trying to migrate to [but] these tariffs have undermined all of the progress in diversification.”
