Adidas warns US tariffs will raise product costs
Company says lack of domestic production makes it vulnerable to rising import duties
Increased Activity at US Ports Before New Tariffs on China
ISTANBUL
Adidas warned Tuesday that rising US tariffs will eventually increase the cost of its products in the American market.
In a press release, CEO Bjorn Gulden said the company has already minimized exports from China to the US, but that the new tariff policies are having a broader impact.
"What is even worse for us is the general increase in US tariffs from all other countries of origin," Gulden said.
He noted that Adidas currently cannot manufacture most of its products domestically, meaning higher import duties are likely to result in increased 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 added.
Gulden said it is currently impossible to quantify the impact or determine how it might affect consumer demand.
