The Adidas U.S. tariff impact is casting a shadow over the company’s 2025 outlook. On Tuesday, German sportswear giant Adidas said rising U.S. import tariffs and trade uncertainty are making financial planning increasingly difficult.
CEO Bjorn Gulden revealed that the company had considered raising its revenue and profit forecast for 2025. However, due to unclear tariff developments and shifting trade policies, Adidas chose to hold back.
“We do not know what the final tariffs will be,” Gulden stated. “Therefore, we cannot make any final decisions on what to do.”
U.S. Tariffs Disrupt Supply Chains
Adidas has already cut exports of China-made products to the U.S. to a minimum. Still, the brand remains vulnerable to higher tariffs on Chinese goods. Adding to the challenge, the U.S. recently announced steep tariff increases on goods from Southeast Asian countries like Vietnam and Indonesia—key production hubs for Adidas. Though these increases are paused until July, they have alarmed the industry.
These unexpected tariff hikes blindsided many sportswear brands, which manufacture most of their footwear and apparel in those countries.
Adidas warned that these tariffs could eventually drive up product prices across its U.S. portfolio. However, the company said it is currently impossible to quantify the impact on consumer demand. The uncertainty has, in effect, paralyzed pricing and planning strategies.
Compensating Through Global Markets
Despite turbulence in North America, Adidas is performing well elsewhere. First-quarter sales surged 14% in Europe, 13% in Greater China, and 26% in Latin America. North American sales, by contrast, rose just 3%—a result largely attributed to the phase-out of its Yeezy sneaker line.
Gulden emphasized that Adidas would work to keep prices attractive for U.S. consumers and retail partners. Meanwhile, the brand aims to offset uncertainty in the U.S. by growing performance in international markets.
“We will ensure our U.S. customers get the best possible pricing while growing strongly elsewhere,” Gulden added.
Outlook Clouded by Trade Tensions
Although Adidas is maintaining its full-year forecast for now, the company warned that ongoing trade negotiations and tariff volatility could apply “negative pressure” on results later in the year.
The Adidas U.S. tariff impact serves as a stark reminder of how global politics continue to influence supply chains, profitability, and strategic decision-making for even the largest brands.
