Summary

Donald Trump imposed steep new tariffs on Asian manufacturing hubs, hitting Vietnam (46%), Cambodia (49%), Indonesia (32%), and China (additional 34%).

This blindsided sneaker and apparel brands like Nike, Adidas, and Puma, causing share drops of 8–10%.

Retailers now face limited options to offset costs, with potential 10–12% price hikes on products.

Apparel tariffs will more than double to $26 billion in 2025. The move disrupts supply chains built to avoid China and raises prices on popular products like Nike Jordans and Adidas Sambas.