President Donald Trump is still really mad over the new Nike campaign featuring Colin Kaepernick -- because he's publicly trashing the Swoosh again ... saying the brand is failing just like the NFL.
Trump first blasted Nike during an interview with the Daily Caller -- saying the campaign sends a "terrible message."
Now, Trump's back to Twitter and spitting more venom.
"Just like the NFL, whose ratings have gone WAY DOWN, Nike is getting absolutely killed with anger and boycotts," Trump said.
"I wonder if they had any idea that it would be this way?