That LeBron James jersey could get a little more expensive.
Companies that make clothing and shoes for the National Basketball Association players are in the crosshairs of President Donald Trump's escalating China trade wars.
Moreover, experts worry China could impose penalties on Western brands who sell there at a time when business in that country is exploding. Some also believe U.S. fans might turn to counterfeit merchandise if they don't want to pay higher prices. President Trump tweeted Wednesday that planned tariff increases on another $250 billion in Chinese imports, which would include sports bags, would be delayed until Oct. 15, from Oct. 1. Tariff increases are set to go from 25% to 30%.
"Our sector in China has been very strong. We've been growing 15% every quarter," says Puma U.S. CEO Bjoern Gulden, noting it's the fastest growing market ahead of the U.S. and Europe.Puma has been moving its sourcing out of China over the past two years and now the country accounts for 20 percent of its overall production. Still, Gulden says costs are going up, and he's not sure whether the company will have to raise prices.
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