Shares in Nike, Adidas and Puma Slide as Tariffs Hit Asian Sourcing Hubs

MACROECONOMICS. Shares in Nike, Adidas and Puma dropped sharply on Thursday after U.S. 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, following the earlier 20% tariffs.

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