Overview

• President Donald Trump announced tariffs of up to 49% on imports from Vietnam, Cambodia, Bangladesh, and Indonesia, effective immediately.
• The U.S. also ended the de minimis exemption, subjecting low-value imports from China and Hong Kong to new duties starting May 2.
• The stock market reacted sharply, with the S&P 500 dropping 4%, the Dow Jones falling 3%, and the Nasdaq down 5%.
• Nike, heavily reliant on Vietnamese manufacturing, saw its stock plummet nearly 12%, with other apparel companies like Adidas and Skechers also experiencing significant declines.
• Analysts speculate the tariffs may be a negotiation tactic, but their immediate impact has heightened concerns about inflation, consumer prices, and a potential U.S. recession.