Trade pain, stock gain: Nike shares jump 15% as it shifts production from China; braces for $1 bn tariff blow, price hikes ahead
Nike shares surged 15% at the opening bell Friday after the company announced a shift in production away from China, even as it warned that tariffs imposed by the Trump administration will cost it about $1 billion (roughly Rs 8,300 crore) before internal adjustments take effect.The US sportswear giant said it will begin implementing “surgical” […]