Trump suggested the July 9 deadline for tariffs is not fixed and may change depending on negotiations. White House Press Secretary Karoline Leavitt stated that these deadlines are 'not critical'.

N ike's shares jumped at the opening bell Friday after the company said it's shifting some production away from China. But it also warned that tariffs imposed by the Trump administration will cost it about $1 billion before it makes internal changes, which include “surgical” price increases in the U.S. starting this fall.

Nike reports a significant shift in production away from China, leading to a surge in stock price. However, the company warns of a $1 billion hit from tariffs, prompting concerns over higher prices. Discover the latest on Nike's strategy and its impact on consumers and the sportswear market.

Nike said it would cut its reliance on production in China for the U.S. market to mitigate the impact from U.S. tariffs on imports, and forecast a smaller-than-expected drop in first-quarter revenue,