Adidas and Fast Retailing are the latest apparel giants to warn of higher product prices in the US following new tariffs on imports.

Sportswear brand Adidas warned on Wednesday that it may have to hike prices in the United States, after reporting U.S. tariffs would add around 200 million euros ($231 million) to costs in the second half.

Adidas has warned that US tariffs will cost the German sportswear giant a further €200m (£173m) and confirmed that it will raise prices for American customers. Nearly half of the company's products are made in Asian countries which recently agreed trade deals with the US.