<figure id="attachment_3024786" aria-describedby="caption-attachment-3024786" style="width: 1600px" class="wp-caption alignnone"><img loading="lazy" class="size-full wp-image-3024786" src="https://media.freemalaysiatoday.com/wp-content/uploads/2025/04/8fcf5c40-nike-epa-030425.webp" alt="Nike EPA 030425" width="1600" height="1000" /><figcaption id="caption-attachment-3024786" class="wp-caption-text">Nike produced half of its footwear in Vietnam in its 2024 financial year. (EPA Images pic)</figcaption></figure>
FRANKFURT: Shares in Nike, Adidas and Puma dropped sharply today after US President Donald Trump imposed a raft of new tariffs, including on Vietnam, Indonesia and China, key sourcing markets for the sportswear companies.
Vietnam was targeted with a 46% tariff rate, Cambodia with 49%, Bangladesh with 37% and Indonesia with 32%, while Trump hiked tariffs on China by an extra 34 percentage points, after earlier 20% tariffs.
&#8220;Sportswear brands will be disproportionately impacted by higher tariffs on Vietnam,&#8221; said Cedric Rossi, analyst at Bryan Garnier.
Frankfurt-listed shares of Nike were down 6.5% on the day, while Adidas shares dropped 9% to an almost one-year low and Puma shares fell 8.5%, hitting their lowest level since November 2016.
Nike produced half its footwear and 28% of its apparel in Vietnam in its 2024 financial year, while Adidas relied on Vietnam for 39% of its footwear and 18% of its apparel last year.
For Adidas, Indonesia and Cambodia are also key manufacturing hubs, producing 32% of its footwear and 23% of its apparel, respectively.

MatchPoint Times

Nike, Adidas and Puma shares slide after tariffs hit Vietnam

The country is a key sourcing market and manufacturing hub for the sportswear companies.

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