Adidas is raising prices across the board and says tariffs are to blame

However, the company did not reveal how big the price hikes would be.

Transcript

00:00Adidas says it will be raising prices on all of its U.S. products and it's pointing a finger at

00:05tariffs as the reason for the move. However, the company said it doesn't know how big of an

00:09increase is coming just yet. In a statement, Adidas said, given the uncertainty around the

00:13negotiations between the U.S. and the different exporting countries, we do not know what the

00:17final tariffs will be. Therefore, we cannot make any final decisions on what to do.

00:22Adidas revealed that while it has some exposure to China, which currently has a tariff rate of

00:26145 percent, it was feeling a far bigger impact from an overall increase in tariffs in other

00:31countries. The company has factories in both Cambodia and Vietnam, both of which are being

00:35hit with a 40 percent rate. Adidas also said it is currently unable to make most, if not all,

00:41of its products in the U.S. That'll do it for your daily briefing. From New York City,

00:45I'm Kelsey Barbario with The Street.