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Nike soars on a production shift away from China, but it warns of a $1 billion tariff hit

Associated Press News
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Production in China represents about 16% of the footwear that Nike imports into the U.S. That production will be cut to the high-single-digit range by the end of fiscal 2026 .

Nike is already facing a pullback in spending by Americans , who have grown anxious about the direction of the economy.

The potential for higher prices from Trump 's tariffs have raised alarms for families.