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