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…
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News Source: www.aljazeera.com
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