Berkshire's Brooks Running 'committed to Southeast Asia'

Brooks Running, which is owned by Warren Buffett's Berkshire Hathaway, is committed to keeping production in Southeast Asia even if US President Donald Trump's proposed tariffs mean consumers will pay more for its performance running shoes, its chief executive said.

- JONATHAN STEMPEL

Dan Sheridan, a 27-year Brooks veteran and chief executive since April 2024, in an interview at Berkshire’s annual shareholder meeting noted the risks of higher tariffs on Vietnam and Indonesia, where Brooks makes its shoes.

For now, Mr Sheridan said the Seattle-based company founded in 1914 is modeling that Trump's blanket 10% import tariff sticks.

The outlook is less clear if Trump implements his threatened 46% and 32% tariffs on Vietnamese and Indonesian imports, respectively. Brooks produces 85% of its shoes in Vietnam and the remainder in Indonesia.

“When the election happened, we were already assuming that tariffs were coming,” Mr Sheridan said. “But we are committed to those countries. Southeast Asia makes the best performance running shoes, and so we've spent 20-plus years with partners that we trust.”

Mr Sheridan spoke with Reuters on May 2, one day before Warren Buffett announced his plan to step down as Berkshire’s chief executive.