Nike announced it will increase prices between $2 and $10, depending on the product, with the added costs starting June 1, USA Today reported. Nike did not specifically say tariffs when introducing the new price structure, but said it was part of its seasonal planning, according to Reuters.

From Sunday, 1 June, most Nike shoes that cost more than $100 (£74.50) will see prices rise by as much as $10. Prices of clothing and equipment will also be raised by between $2 to $10. Commenting on the price rises, Nike said: "We regularly evaluate our business and make pricing adjustments as part of our seasonal planning."

Nike is the latest retailer to announce price hikes amid President Donald Trump’s elevated import tariffs. See what retail companies have done so far.