Nike Stock News

Nike shares recovered on Friday after President Donald Trump suggested a possible agreement with Vietnam to reduce recently announced tariffs. The stock was up around 5% in late-morning trading.

Trump's new tariffs are forcing U.S. apparel and shoe makers to scour the world for new places to manufacture.

From home goods and furniture to soft toys, sneakers and athletic apparel, a slew of U.S. companies have tapped into Vietnam in recent years in an attempt to reduce their reliance on China. They're now taking a hit after Trump hit the Southeast Asian country with a hefty 46% tariff in his “liberation day” announcement that targeted nations around the world.

Stocks are plunging today on President Trump's announcement of a 10% blanket tariff on global imports and higher rates on most major trading partners last night.

Shoe brands make an outsized portion of their products in Vietnam, Cambodia and Indonesia, and some have increased their footprints there to divert more of the supply chain away from China.

Nike Inc (NYSE:NKE) stock is under heavy pressure following President Donald Trump's sweeping tariff announcement.

Nike's (NKE -11.95%) management team told investors the turnaround would take longer than expected.

JD Sports Fashion PLC (LSE:JD.) shares were one of the biggest fallers in the FTSE 100 fallout from Donald Trump's new tariff announcement, ahead of a trading update from the sportswear retailer next Wednesday, 9 April.