Shares in sportswear brands Nike, Adidas and Puma slide after tariffs hit Vietnam

Vietnam was targeted with a 46% tariff rate, Cambodia with 49%, Bangladesh with 37% and Indonesia with 32%, while Trump hiked tariffs on China by an extra 34 percentage points, after earlier 20% tariffs. "Sportswear brands will be disproportionately impacted by higher tariffs on Vietnam," said Cedric Rossi, analyst at Bryan Garnier.