Adidas Warns of Increased Prices
(MENAFN) Adidas issued a warning on Tuesday, indicating that escalating US tariffs would eventually raise the prices of its goods in the American market.
In a statement, CEO Bjorn Gulden explained that although the company has already reduced its exports from China to the US, the new tariff regulations are having a wider effect.
"What is even worse for us is the general increase in US tariffs from all other countries of origin," Gulden commented.
He emphasized that Adidas is not able to produce most of its items locally, suggesting that higher import duties would likely lead to greater expenses.
"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 continued.
Gulden also mentioned that it is impossible at this moment to assess the overall impact or predict how it may influence consumer demand.
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