"I wonder if they had any idea that it would be this way?"
Shares of Nike fell almost 3 % in midday trading Tuesday, and social media posts showing consumers cutting up or burning Nike clothing popped up with a hashtag encouraging a #NikeBoycott.
Kaepernick, formerly the quarterback for the San Francisco 49ers, was a controversial choice due to his notoriety for kneeling during the national anthem at NFL games.
At a rally in Montana last week, Trump said he didn't think Nike's endorsement deal with Kaepernick was appropriate.
"Just like the National Football League, whose ratings have gone WAY DOWN, Nike is getting absolutely killed with anger and boycotts", Trump wrote on Twitter.
On Wednesday, The New York Times published an op-ed from an anonymous "senior official" in the Trump administration titled "I Am Part of the Resistance Inside the Trump Administration".
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Nike recently created a commercial in celebration of the 30th anniversary of its "Just Do It" ad campaign.
The 30-year-old's protests came after the deaths of several unarmed black men during confrontations with law enforcement.
Due to his involvement in the widespread movement - which gained even more traction after Donald Trump called players who "disrespect" the United States flag "sons of bitches" and asked for them to be sacked - Kaepernick has remained a free agent since opting out of his contract with the San Francisco 49ers in 2017.
"It is absolutely absurd that Nike would feature Colin Kaepernick as the focus of their latest ad campaign".
The two minute-plus spot features dozens of athletes, including tennis champion Serena Williams, basketball's LeBron James and Kenya's Olympic marathon champion Eliud Kipchoge. "If we have a contract, we'll honor it, but we strongly support law enforcement and strongly support our military and veterans who died to protect our freedoms and if the company really believes what Colin Kaepernick believes, it's going to be hard for us to keep doing business with them".
"Don't ask if your dreams are insane, ask if they're insane enough", Kaepernick asks at the end of the spot.