Top U.S. brands like Nike have spent years shifting away from Chinese factories, but the new tariffs now threaten Southeast Asian supplies.

Apart from China, Taiwan is also on the list of "worst offenders" in Donald Trump's latest round of tariffs, and now faces a new 32% tariff. There's been "a lot of disappointment, shock and anxiety" in Taiwan over the move, according to a political scientist.

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.

The latest US tariffs, particularly 46% on Vietnam, threaten the supply chains of major footwear brands like Nike and Adidas, which rely heavily on Vietnamese production. The tariffs may increase consumer prices and impact Vietnam's $44 billion export market.

Retailers may not be able to fully offset these tariffs, as countering the impact of the levies on Vietnam alone would require price increases of 10% to 12%, analysts say.

US President Donald Trump has announced a significant 46% tariff on Vietnamese imports, effective April 9, 2025, affecting industries from apparel to toys. This decision raises concerns for consumers facing potential price hikes amidst ongoing inflation.

The S&P 500 sank 4.8 percent, more than in major markets across Asia and Europe, for its worst day since the pandemic crashed the economy. The Dow Jones Industrial Average dropped 1,679 points.

Nike shares fell 7.3% in extended trading at 6 PM New York time. Lululemon Athletica Inc., which makes 40% of its products in Vietnam and 17% in Cambodia, tumbled almost 11% in late trading.