Companies in furniture, hardware, and apparel are all at risk. But shoes and sneakers may top the list. On Wednesday, Trump announced a wide ranging series of reciprocal tariffs on imported goods from countries including China and Japan.

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

Over the past few years, the world’s largest sneaker companies have increasingly expanded their sourcing footprint in countries like Vietnam to diversify production outside of China. But with the Trump administration’s “Liberation Day” tariffs taking aim at manufacturing hubs across Southeast Asia,