Sneaker and apparel retailers blindsided by tariffs on Asian factory hubs
(Reuters) -Prices of Nike Jordan and Adidas Samba sneakers are likely to rise in the United States after President Donald Trump imposed a raft of new tariffs on key manufacturers of sportswear and apparel including Vietnam and Indonesia. Top U.S. brands like Nike have spent years shifting away from Chinese factories as political tensions between Washington and Beijing escalated, but the new tariffs now threaten southeast Asian supplies of everything from tracksuits to high-tech running shoes. Shares in Nike, Adidas and Puma dropped sharply after 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.