HERZOGENAURACH: Further US tariffs on imports would cause prices to rise and consumers to buy fewer products, Adidas chief executive officer Bjorn Gulden said on Wednesday as the business navigates higher levies implemented by President Donald Trump’s administration on China, Canada and Mexico.

Adidas has not estimated the potential impact of US tariffs on Vietnam, its top manufacturing country, which President Donald Trump has threatened with higher levies, Gulden said. “If there are 25 per cent duties coming and it is on more countries, inflation will go up and volumes will go down,” Gulden told journalists after reporting results. “We know that, but how much? I mean, we can give you a number, but the only thing we know is we will have to adjust very, very quickly.”

Vietnam produces 27 per cent of Adidas’ total volume of products, followed by Indonesia at 19 per cent and China at 16 per cent. But Gulden shrugged off the impact of higher US tariffs on Chinese goods, saying only a small portion of its product sold in the US is made in China. “We have less than 5.0 per cent of our volumes going to the US is (produced in) China,” he said.