Nike share price skids 6% as Trump’s reciprocal tariffs target key manufacturing hubs
The world’s largest footwear and apparel companies are facing a shock to their supply chains after President Donald Trump announced new tariffs on Vietnam and other critical production hubs.
The US imposed a 46% reciprocal tariff rate on Vietnamese goods on Wednesday as part of Trump’s growing trade war with countries around the world. Other new tariffs include 49% on Cambodia, 34% on China and 32% on Indonesia.
Nike Inc. and Adidas AG made big bets on Vietnam over the last decade. Today, about half of all Nike shoes and 39% of Adidas shoes are made in the country, according to regulatory filings. Vietnam is the largest supplier of footwear for both companies, and shoes produced in the country account for more than $20 billion in…
