St. Louis Federal Reserve President James Bullard suggested Beijing should accept Washington's demands to resolve the diplomatic impasse.
The Swoosh brand, along with other heavy hitters of the footwear industry, has written a letter urging the president not to impose the increased levies on China.
The trade war between the world's two largest economies has escalated over the last few weeks, after Washington imposed punitive tariffs on Chinese products.
Deutsche Bank analysts warn that a trade war between Washington and Beijing could destabilize markets for the foreseeable future.
Colbert accused the president of lying to American consumers over the real impact of increased tariffs.
The escalating trade war between China and the U.S. continues to put Wall Street stocks under pressure.
The company's CEO admitted it is "relatively uncommon" to change prices mid-year. But given the cost pressures, the company believes it is best for business.
The threat by the U.S. president to slap 50 billion dollars worth of tariffs on goods will hit Americans in the pocket.