Foreign
Nike To Hike Prices Amid Trump’s China Tariffs
Nike joins companies like Walmart, Target and Mattel that have said they will need to raise prices.
Nike has said it will cut its reliance on production in China for the United States market to mitigate the impact from US tariffs on imports, and forecast a smaller-than-expected drop in first-quarter revenue.
The sportswear giant’s shares zoomed 15 percent at the opening bell on Friday morning after it announced the change in conjunction with its earnings report released on Thursday.
US President Donald Trump’s sweeping tariffs on imports from key trading partners could add about $1bn to Nike’s costs, company executives said on a post-earnings call after the sportswear giant topped estimates for fourth-quarter results.
China, subject to the biggest tariff increases imposed by Trump, accounts for about 16 percent of the shoes Nike imports into the US, Chief Financial Officer Matthew Friend said. However, the company aims to cut the figure to a “high single-digit percentage range” by the end of May 2026 as it reallocates Chinese production to other countries.
“We will optimise our sourcing mix and allocate production differently across countries to mitigate the new cost headwind into the United States,” he said on a call with investors.
Consumer goods are one of the most affected areas by the tariff dispute between the world’s two largest economies, but Nike’s executives said they were focused on cutting the financial pain. Nike will “evaluate” corporate cost reductions to deal with the tariff impact, Friend said. The company has already announced price increases for some products in the US.
“The tariff impact is significant. However, I expect others in the sportswear industry will also raise prices, so Nike may not lose much share in the US,” David Swartz, analyst at Morningstar Research, told the Reuters news agency.
CEO Elliott Hill’s strategy to focus product innovation and marketing around sports is beginning to show some fruit, with the running category returning to growth in the fourth quarter after several quarters of weakness.
Having lost share in the fast-growing running market, Nike has invested heavily in running shoes such as Pegasus and Vomero, while scaling back production of sneakers such as the Air Force 1.
“Running has performed especially strongly for Nike,” said Citi analyst Monique Pollard, adding that new running shoes and sportswear products are expected to offset the declines in Nike’s classic sneaker franchises at wholesale partner stores.
Marketing spending was up 15 percent year on year in the quarter.
On Thursday, Nike hosted an event in which its sponsored athlete Faith Kipyegon attempted to run a mile in under four minutes. Paced by other star athletes in the glitzy event that was livestreamed from a Paris stadium, Kipyegon fell short of the goal but set a new unofficial record.
Nike forecast first-quarter revenue to fall in the mid-single digits, slightly better than analysts’ expectations of a 7.3 percent drop, according to data compiled by LSEG. Its fourth-quarter sales fell 12 percent to $11.10bn, but still beat estimates of a 14.9 percent drop to $10.72bn.
China continued to be a pain point, with executives saying a turnaround in the country will take time as Nike contends with tougher economic conditions and competition.
Looming trade deal as prices rise
Nike’s woes come as a trade deal with China could be on the horizon. US Treasury Secretary Scott Bessett said on Friday that the administration could have a deal with Beijing by Labor Day, which is on September 1.
Under the deal, the US will likely impose 55 percent tariffs across the board on Chinese goods, down from 145 percent, still a significant burden on businesses.
o a survey from Allianz Global Trade last month, 38 percent of businesses say they will need to raise prices for consumers, with Nike being the latest.
In April, competitor Adidas said it would need to eventually raise prices for US consumers.
“Cost increases due to higher tariffs will eventually cause price increases,” CEO Bjorn Gulden said at the time.
Walmart said last month that its customers will see higher price tags in its stores as the nation’s biggest big box retailer prepares for back to school shopping season.
Target, which had a bad first quarter driven by boycotts and the looming threat of tariffs, also has been hit as the big box retailer gets 30 percent of its goods from China.
Aljazeera.com
Foreign
Breaking: US Announces Next Step After Invading Venezuela
The United States has said it will be charging Nicolás Maduro and his wife, Cilia Flores, the president and first lady of Venezuela, for terrorism and drug offences
Attorney General Pamela Bondi confirmed the development, adding that Maduro and Flores were indicted in the Southern District of New York
President Donald Trump earlier claimed that the US forces captured them in a “large-scale strike” following the US attack on the sovereign country
The United States has announced that Venezuelan President Nicolás Maduro and his wife, Cilia Flores, would be charged with drug and terrorism offences after President Donald Trump’s claim that the US forces captured them in a “large-scale strike” on Venezuela.
Speaking on the invasion, Attorney General Pamela Bondi confirmed the development, adding that Maduro and Flores were indicted in the Southern District of New York. She added that the Venezuelan was charged with illicit drug importation conspiracy, narco-terrorism conspiracy, conspiracy to possess machine guns and destructive devices, and possession of machine guns and destructive devices, against the United States.
According to Bonde, the mission was “incredible and highly successful”. She expressed appreciation to the US military for carrying out the mission.
Bondi described the mission as “incredible and highly successful” and expressed gratitude to the US military for carrying it out. “They will soon face the full wrath of American justice on American soil in American courts,” she added.
Many Americans have taken to the comment section of her post and expressed their views on the development. Below are some of their comments:
Natalie F Danelishen expressed worries:
“You guys seriously captured and arrested a president in another country before arresting anyone on the Epstein list.”
Shen Shiwei questioned the US’s right to invade another country:
“How could the U.S. legalize its ‘military aggression’ against another sovereign country of Venezuela and its president by labelling it as an “operation”? When did the U.S. domestic law rise above other countries’ domestic laws and international laws?”
“If this proceeds in U.S. courts, it sets a huge precedent, prosecuting a sitting (or recently removed) head of state blurs the line between justice and geopolitics. The real test will be due process and evidence, not the headlines.”
Amy Siskind wrote:
“I’m old enough to remember that we just pardoned and released the former president of Honduras for far worse.”
Sari Beth Rosenberg commented:
“So, what’s the difference between Maduro and the President of Honduras, whom Trump pardoned? You are all so obvious.” Beth questioned the move:
“Is this going to go like the rest of your indictments, where it ends up abandoned, dropped, or dismissed by the court?”
” See the full statement of the Attorney General on X here:
Nicolas Maduro and his wife, Cilia Flores, have been indicted in the Southern District of New York. Nicolas Maduro has been charged with Narco-Terrorism Conspiracy, Cocaine Importation Conspiracy, Possession of Machineguns and Destructive Devices, and Conspiracy to Possess…
— Attorney General Pamela Bondi (@AGPamBondi) January 3, 2026
Foreign
‘Supreme Banditry’: Sheikh Gumi Reacts To Trump’s Arrest Of Venezuelan President
Islamic cleric Sheikh Ahmad Gumi has reacted strongly to the reported arrest of Venezuelan President Nicolás Maduro and his wife by former United States President Donald Trump.
Gumi’s reaction came shortly after news of the arrest began to spread. He focused his response on what he described as the abuse of global power.
According to him, powerful nations now act beyond limits and target entire countries, not just individuals.
In a post shared on his Facebook page on Saturday, the cleric described the action in harsh terms.
He wrote, “Supreme banditry doesn’t attack villages, they attack nations and kidnap leaders,” a statement widely seen as a direct swipe at Trump and the United States.
Gumi’s comments quickly drew attention due to his long-standing criticism of Western military and political influence, especially in developing countries.
He has often argued that global powers destabilize weaker nations under the guise of security and justice.
The arrest of Maduro marks a major escalation in the long-running tension between the United States and Venezuela. The Venezuelan leader has been accused by Washington of involvement in international drug trafficking and other transnational crimes. These allegations have been repeatedly denied by Maduro and his allies.
Only months ago, the United States significantly increased the reward offered for information leading to Maduro’s capture.
The bounty was raised to $50 million, making it one of the highest ever placed on a sitting head of state. The move was condemned by several governments and political groups across the world.
Trump, who announced the arrest through his personal platform, presented the action as a major victory against global crime.
However, critics argue that the move undermines international law and national sovereignty.
Foreign
JUST IN: Russia Reacts To US Military Action In Venezuela
Russia has condemned the United States’ military action in Venezuela, saying there was no credible justification for the attack and accusing Washington of allowing “ideological hostility” to override diplomacy.
Venezuela remains Russia’s key ally in South America, although the Kremlin has so far stopped short of pledging direct assistance to Caracas in the event of a conflict with the United States.
“This morning, the United States committed an act of armed aggression against Venezuela. This is deeply troubling and deserves condemnation,” the Russian Foreign Ministry said in a statement.
The ministry added that the reasons advanced to justify the operation were “untenable,” noting that ideological hostility had prevailed over pragmatic, businesslike engagement.
The statement made no reference to Venezuelan President Nicolás Maduro, whom US President Donald Trump claimed was captured during Saturday’s military operation.
“We reaffirm our solidarity with the Venezuelan people,” the ministry said, adding that there were no reports of Russian citizens being harmed in the US strikes.
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