Tariffs
Nike's Chief Financial Officer Matthew Friend warned investors on Thursday that the company could lose around $1 billion due to tariffs imposed by President Donald Trump. The company is shifting its production away from China, where it imports about 16 percent of its footwear into the U.S.
Tariffs
Nike's shares rose 15 percent as the sportswear giant announced plans to reduce its production in China for the US market, aiming to minimize the impact of US tariffs on imports. The company forecast a smaller-than-expected drop in first-quarter revenue, with a mid-single-digit decline compared to analysts'
Tariffs
Nike is taking steps to mitigate the impact of US tariffs on imports from China, aiming to reduce its reliance on production in China to a "high single-digit percentage range" by end-May 2026. The company is shifting production to other countries to offset the potential cost increase of
Tariffs
As students head back to school, several retail giants, including Nike, are expected to face higher prices due to looming tariffs. Nike's shares surged 15% after the company announced plans to shift some production away from China, but the company warned that tariffs imposed by the Trump administration
Carney, Mark
Donald Trump has abruptly ended trade discussions with Canada in response to a proposed three per cent digital services tax on tech companies, which he described as a "blatant attack on our country". The president cited concerns over a potential tax bill of up to $2 billion for
International trade
US President Donald Trump abruptly terminated trade talks with Canada on Friday, calling its new digital services tax a "blatant attack" on American business. The move follows a June 19 announcement by Canadian Finance Minister Francois-Philippe Champagne that the tax would start on June 30, targeting US technology
Tariffs
Federal Reserve Chair Jerome Powell on Wednesday faced intense questioning and criticism from Senate Republicans and President Trump during an appearance before the Senate Banking Committee. Amid accusations of political bias and pressure to cut interest rates, Powell defended the central bank's reluctance to cut interest rates, citing
Tariffs
India and the United States have hit a roadblock in their trade negotiations, with the two sides clashing over import duties on farm goods, steel, and auto parts. The US is demanding that India commit to lower import tariffs on farm goods such as soybeans and corn, as well as
Tariffs
Indian negotiators, led by Rajesh Agrawal, chief negotiator of the Bilateral Trade Agreement (BTA), have arrived in Washington to hold talks with US officials, led by US Assistant United States Trade Representative (USTR) Brenden Lynch, ahead of the July 9 tariff deadline. The talks aim to address key issues including
Tariffs
The UK government has launched a six-week Call for Evidence to gather views from the steel supply chain on future trade measures to protect the industry. This move comes after a recent deal with the US to lift steel tariffs, and as a key step in ensuring the continued protection
Tariffs
The finalization of the US-UK trade deal has brought uncertainty to the steel industry, with the UK's ability to secure exemptions from Donald Trump's steel tariffs in question. The issue revolves around the melt and pour rules, a US interpretation of rules of origin around steel,
Tariffs
India's engineering exports to the US continued to rise in April-May despite the imposition of high tariffs, with a growth of 10.4% to $3.4 billion. The strong growth in steel, machinery, and auto parts exports contributed to this surge. However, exports to key countries in the
