Hilarious that Peter Schiff thinks Nike will be taking a 43% hit to their profits just to avoid making their shoes in the US.

@PeterSchiff @Nike I haven’t bought a single Nike item since they backed Colin Kapernick. Fuck them both!! Under Armor is what I buy now!

@PeterSchiff @Nike My question is how can a company paying sweet shop wages only have a 9% profit margin? Is it because they pay all these athletes of absurd amounts of money?

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@PeterSchiff @Nike It costs Nike about $4.00 to make their shoes. Unless the USA is going to start using child and forced labor, everything that comes from countries that do, should have hefty tariffs placed on them.

Nike didn’t move manufacturing to China because it was better. They moved because it was cheaper. Like many corporations, they traded local jobs for global margins, chasing short term profit at the expense of long term resilience. But cheap labor comes with a price. Tariffs are not just a tax. They are a reality check. For decades, companies like Nike built their empires on the back of offshore labor, assuming the global system would never break. Now, with rising tariffs and geopolitical instability, that model looks less like smart business and more like corporate dependency. The irony? The very system they helped create is now squeezing them. Bringing manufacturing back to the USA won’t just be patriotic. It will be survival. Companies that fail to adapt will not only lose margin. They will lose relevance. Globalism was a shortcut. Reality just caught up.

@PeterSchiff @Nike I refuse to buy their crap for a very long time now, so it won’t make a difference to me. They has the cheapest labor cost, and their shoes don’t last a fraction of how long they used to last, so I personally refuse to pay premium dollars for trash!

@PeterSchiff @Nike New Balance is the superior shoe. Also, Nike would go bankrupt if they shift their sales to China instead of tge US.

@PeterSchiff @Nike @teameffujoe I just came across this on my timeline. China doesn’t have long to go.

@PeterSchiff @Nike 55$ for a pair of @Nike running shorts… meanwhile they’re playing paying slave wages to children somewhere in China to make the shorts… Hard pass!

For apparell companies that can't automate (many of which are now doing so that the labor isn't a major factor) even if they can't move to the US to be profitable, will move to another country that has zero tariffs with the US. - This is about increasing jobs, but also about building good relationships with good trading partners while also having the bonus of isolating China.

@PeterSchiff @Nike Nike is gone the way of moon boots and Hush Puppies. You can still find them but they’re way out of style.