Zinger Key Points
- Nike shares are falling sharply Thursday morning as Trump administration tariffs threaten the company's supply chain.
- Close to 50% of all Nike footwear is currently made in Vietnam, which was hit with 46% reciprocal tariffs this week.
- With stocks plunging, steady income is key. Tim Melvin & Ryan Faloona reveal dividend stocks and deep-value plays on April 8. Reserve your spot now.
Nike Inc NKE shares are tumbling Thursday after U.S. President Donald Trump announced sweeping reciprocal tariffs on several countries around the world.
What To Know: Nike shares are falling sharply Thursday morning as Trump administration tariffs threaten the company’s supply chain.
Nike imports most of its products from Vietnam, China and Indonesia. Close to 50% of all Nike footwear is currently made in Vietnam, according to Bloomberg.
The Trump administration announced new 46% reciprocal tariffs on Vietnam, 34% tariffs on China and 32% tariffs on Indonesia late Wednesday, sending stock market futures spiraling lower. Retailers are among the hardest hit names.
Nike competitor, Adidas is facing selling pressure as it makes about 39% of its footwear in Vietnam. Lululemon is also trading significantly lower Thursday morning. The athleisure company makes 40% of its products in Vietnam and about 17% in Cambodia. Trump slapped a 49% reciprocal tariff on Cambodia this week.
Wedbush’s Dan Ives took to X following the announcement, calling the tariffs “worse than the worst case scenario.”
“The biggest focus will be the China 34% tariff and Taiwan 32% and how this impacts supply chain and demand,” Ives said in the X post.
NKE Price Action: Nike shares were down 13.0% at $56.51 at the time of publication Thursday, according to Benzinga Pro.
Photo: Shutterstock.
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