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NKE stock clings to large gains following lowered China tariffs. The Trump administration brought China tariffs down from 145% to 30% on Monday. Nike sources about 15% of its global brand sales from Greater China. Shareholders want to see the trade deal with Vietnam finalized next. Nike (NKE) stock is holding onto its gains deep into Monday’s morning session. The broad US stock market is surging following the Trump administration’s pause on sky-high China tariffs. Nike stock jumped 8% initially and still retains a 6.8% gain at lunchtime in New York. Treasury Secretary Scott Bessent led talks in Switzerland over the weekend that lowered China tariffs by 115 percentage points to 30%, while China did the same, cutting tariffs on US goods to 10%. The US tariff level remains higher, owing to Trump’s pre-existing 20% levy on Chinese goods due to the separate fentanyl issue. Though Nike relies extensively on Vietnam for a large swath of its products, utilizing Chinese factories to a lesser degree, the Greater China designation accounts for about 15% of Nike-branded sales. The 90-day pause will grant shareholders the expectation of better results in the fiscal first quarter that begins in June. The Dow Jones Industrial Average (DJIA), which includes Nike, rose 2.3% in the late morning trade. The S&P 500 and NASDAQ Composite spiked 2.6% and 3.6% at the same time, owing to a larger weighting of high-flying tech stocks. Nike stock news Nike stock is one of the leading gainers in the DJIA on Monday, sandwiched in between Amazon (AMZN) and Apple (AAPL) for the highest percentage gain so far. Wall Street analysts’ worst fears about Trump’s trade war are over for now, and shareholders can wait until early August for more details to emerge toward a final deal. Secretary Bessent did say that…

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Filed under: News - @ May 12, 2025 6:23 pm