The shares of Nike, Adidas and Puma have fell rapidly, after US President Donald Trump imposed a series of new duties, including in Vietnam, Indonesia and China, which are key markets for supplying products for sportswear companies. Vietnam was targeting 46%duty, Cambodia 49%, Bangladesh 37%and Indonesia 32%, while Trump increased customs duties in China by an additional 34 percentage points, following previous duties. “Sports goods companies will be disproportionately affected by the highest duties in Vietnam,” Centrik Rossi, an analyst at Bryan Garnier, said. Nike’s Frankfurt Shares fell 6.5% earlier, while Adidas fell 9% to almost low -year and Puma dropped 8.5%, their lower levels since November 2016. Adidas was based on […]
Source: News Beast
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