Nike is forecasting it will have to pay $1 billion in additional costs because of President Donald Trump’s tariffs, the activewear giant announced Thursday.

Nike reported a smaller-than-expected drop in fourth-quarter revenue and beat profit estimates. REUTERS. China, subject to the biggest tariff increases imposed by Trump, accounts for about 16% of ...

Nike said it expects tariffs to increase its costs by $1 billion this fiscal year. The company said it plans to pass through some of these costs with “surgical” price increases on its product ...