Progressive mega-brand suffers stock slump over fears Trump will make Chinese imports pricier

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Progressive mega-brand suffers stock slump over fears Trump will make Chinese imports pricier

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Nike shares sunk 3 percent yesterday after Donald Trump's victory - over fears his tariffs will cause prices of imported sneakers and sportswear to soar. While Trump, a self-proclaimed 'believer in tariffs,' sees them as necessary, experts warn they could backfire on companies like Nike. Tariffs are government taxes on imported goods, and typically lead to higher store prices unless companies cut profit margins. 'The tariff proposals represent a serious threat to a lot of businesses and brands,' Neil Saunders of Global Data told DailyMail.
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