Peter Schiff Says Nike 'Won't Build Factories' In US, They Will Sell To Countries Like China: A Much Better Strategy Amid Trump Tariffs

What Happened: “Nike won’t physique factories successful the U.S. to marque sneakers. That would adhd much outgo than the 40% tariffs,” Schiff wrote connected X. “The effect volition beryllium less sneakers sold successful the U.S. astatine overmuch higher prices.”

When questioned whether Nike mightiness sorb tariff costs portion gathering home factories, Schiff dismissed the idea, suggesting the institution would alternatively redirect products: “They volition yet merchantability much sneakers to consumers successful different countries instead, arsenic they bargain what Americans tin nary longer afford.”

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The comments travel arsenic Nike shares plummeted 14.44% connected Thursday aft President Donald Trump announced sweeping reciprocal tariffs affecting the company’s proviso chain. Vietnam, wherever Nike produces astir 50% of its footwear, faces a 46% tariff increase.

Nike’s gross worldwide successful cardinal U.S. dollars from the fiscal years of 2017 to 2024, by region— Source: Statista

See Also: How bash billionaires wage little successful income taxation than you? Tax deferring is their fig 1 strategy.

Why It Matters: Goldman Sachs identified Nike among respective retailers with precocious vulnerability to the caller tariffs, which see a 34% complaint for China and 32% for Indonesia, some cardinal manufacturing locations for the company.