Adidas Signals Price Increases as U.S. Tariffs Rise
(MENAFN) Adidas issued a warning on Tuesday that escalating U.S. tariffs are likely to drive up the prices of its products in the American market.
According to a press release, CEO Bjorn Gulden stated the company has already significantly reduced shipments from China to the United States, but the expanding tariff regime is affecting more than just China.
"What is even worse for us is the general increase in US tariffs from all other countries of origin," Gulden remarked.
He explained that because Adidas lacks the capacity to produce most of its goods within the U.S., the company is vulnerable to higher import taxes, which could raise costs.
"Given the uncertainty around the negotiations between the US and the different exporting countries, we do not know what the final tariffs will be," he further noted.
Gulden also noted that, at this point, it's not possible to measure the full financial impact or assess how consumers might respond.
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