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Nike’s Vietnam Manufacturing Shift Puts It in Trump’s Tariff Crosshairs

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Nike’s Vietnam Manufacturing Shift Puts It in Trump’s Tariff Crosshairs

For the past two decades, Nike has worked to gradually diversify its manufacturing beyond China, with Vietnam emerging as the company’s most important market for production. On Wednesday afternoon, President Donald Trump announced reciprocal tariffs that will impact Vietnamese-made goods more than those from almost any other country.

The impact of those import tariffs will be far-reaching across the global economy—shortly after the announcement an S&P 500 ETF fell 2%. They will particularly impact the companies that import the bulk of their goods from the countries with the highest rates. On Trump’s list, Vietnam had the fourth highest rate at 46%, trailing only Cambodia (49%), Laos (48%) and Madagascar (47%).

In fiscal 2024, factories in Vietnam manufactured 50% of all Nike Brand footwear, by far its largest market. Factories in Vietnam also manufactured 28% of all Nike Brand apparel, also its largest market.

The second most important manufacturing market for Nike is likely China. The country accounts for 16% of Nike apparel manufacturing, second only to Vietnam, and 18% of footwear, third behind Vietnam and Indonesia. Trump’s new tariffs include a 34% rate on China-made goods, but White House officials told CNBC that the those tariffs would come on top of the 20% already imposed on Chinese imports. That implies a true tariffs rate of 54%. 

Nike stock (NYSE: NKE) fell 7% in after-market trading.

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Representatives for Nike didn’t immediately respond to an email seeking comment. Tariffs only came up once on the company’s latest earnings call on March 20, with CFO Matthew Friend mentioning specifically that the company’s latest guidance included newly implemented tariffs on imports from Mexico and China. Those tariffs are separate from the ones announced this week.

Throughout the 1990s Nike was frequently criticized for the labor conditions of its overseas factories, particularly those in China. Since then, the company has worked to diversify its supply chain. It’s not alone—U.S. companies of all sorts have spread out their manufacturing in that span, some searching for lower prices, others looking to insulate themselves from potential volatility and geopolitical relations between the U.S. and Chinese governments.

Vietnam quickly emerged as Nike’s most important market for manufacturing. In 2001, for example, Vietnam accounted for just 13% of the company’s footwear goods and was not included in a list of 12 countries that accounted for most of Nike’s apparel manufacturing, according to SEC filings. A decade later, in 2011, Vietnamese factories were making 39% of Nike’s footwear, its biggest market, and appeared to be third for apparel. It became the company’s most important country for apparel manufacturing for the first time in 2020  and has remained at the top in both categories ever since.

The Nike filings only list where the goods are made, and not where they are sold. That’s likely more relevant in China—many companies are more intentional about selling China-manufactured goods in China—than it is in Vietnam, which has a population that is about 1/14th of its northern neighbor.

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Indonesian factories accounted for 27% of Nike footwear in 2024, according to the filing, which put it in front of China and behind Vietnam. Trump’s announcement included a 32% tariff on Indonesian goods. The third most important country for manufacturing Nike clothing was Cambodia, at 15% of the company’s apparel. The Cambodian tariff rate of 49% was the highest of any rate announced Wednesday.

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Meta appeals landmark jury verdict that found it to blame for social media addiction for young users

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Meta appeals landmark jury verdict that found it to blame for social media addiction for young users

Meta, the parent company of Instagram and Facebook, has appealed the verdict of a landmark social media addiction lawsuit in Los Angeles, challenging the jury’s determination that the company designed its platforms to hook young users without concern for their well-being.

Lawyers representing Meta filed a notice of appeal Tuesday in Los Angeles County Superior Court. The lawyers will provide their arguments related to the appeal in subsequent court filings.

The case centered on a 20-year-old woman who said she became addicted to social media as a child and that it worsened her mental health struggles. The jury found that negligence by both Meta and Google-owned YouTube, which was also a defendant in the case, was a substantial factor in causing harm to the young woman, identified in court only by her initials, KGM, and her first name, Kaley.

The jury awarded her $3 million in damages and recommended an additional $3 million in punitive damages. Her lead attorney, Mark Lanier, said in a statement Friday that the legal team is expecting the appellate court to “continue the careful application of the law to this case, affirming the verdict of the trial court.”

A notice of appeal starts what can be a lengthy process. A Meta spokesperson provided a statement Friday that they also gave when the jury returned the verdict in March, saying that teen mental health is “profoundly complex and cannot be linked to a single app.”

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José Castañeda, a spokesperson for Google, said in a statement Friday that YouTube plans to appeal and that “these are standard motions for this case to move forward.”

Meta and Google had each filed post-trial motions for judgment notwithstanding the verdict — a routinely filed motion by defense lawyers asking a judge to toss out the jury’s verdict — and for a new trial. The trial judge, Carolyn B. Kuhl, denied those motions in early June.

Tech companies like Meta and YouTube are shielded from legal responsibility for content posted by third parties, based on Section 230 of the 1996 Communications Decency Act. To get around those protections, the plaintiffs focused on the design features of the platforms like “infinite scroll,” or the endless nature of feeds on the platforms, and autoplay functions.

Questions about encroaching into content-related territory were the subject of many objections from the defendants throughout the five-week trial.

The verdict in this case came during a time of legal woes for Meta. A jury in New Mexico returned a verdict finding that Meta’s platforms harm children’s mental health and safety just one day before the California jury reached its decision. The New Mexico jury, siding with state prosecutors who brought the case, landed on a penalty of $375 million. Meta has said the company disagrees with the verdict and will also appeal in that case.

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“We will continue to defend ourselves vigorously, and we remain confident in our record of protecting teens online,” a Meta spokesperson said in a statement at the time of the verdicts and again on Friday.

Kaley’s case was a first-of-its-kind lawsuit, and the verdict could influence the outcome of thousands of similar lawsuits accusing social media companies of deliberately causing harm. TikTok and Snapchat parent company Snap Inc. were also initially named as defendants in the case, but each settled for undisclosed sums before the trial began.

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Israel signals readiness for another Iran strike as Trump declares ceasefire over

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Israel signals readiness for another Iran strike as Trump declares ceasefire over

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Israel’s leaders are publicly signaling that their country is prepared to strike Iran for a third time, while a U.S. official tells Fox News Digital that Washington remains closely coordinated with Jerusalem. 

“The IDF is on high alert and prepared to resume the campaign, regain air superiority, and carry out an independent Israeli strike against Iran to eliminate threats — even for a third time,” Israel Defense Forces (IDF) Minister Israel Katz said Thursday at a graduation ceremony for the Israeli Air Force’s newest pilots.

“If we have to return, we will return with even greater force,” Katz added.

ISRAEL DEFENSE CHIEF WARNS STRIKES ON IRAN COULD RESUME SOON, SIGNALS CAMPAIGN NOT OVER

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U.S. Central Command shared this footage in a July 8, 2026, press release about strikes against Iran.  (CENTCOM)

Prime Minister Benjamin Netanyahu also warned Thursday that Israel’s campaign against Iran was not finished and said Tehran would not be permitted to obtain a nuclear weapon, regardless of any agreement reached with Washington.

“The war has not yet ended,” Netanyahu said at the air force ceremony. “Alongside the old challenges, new challenges are emerging. Axes are falling, and axes are rising. We are paying attention to this. We are prepared for every scenario.”

Two Israeli sources told CNN Friday that the Trump administration does not currently want Israel to participate in the latest U.S. strikes against Iran. 

“Netanyahu would really want to join the U.S. strikes, but the U.S. doesn’t want Israel involved at the moment,” one of the sources told CNN.

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A U.S. official denied the report, telling Fox News Digital, “This is fake news. The United States has a strong relationship with Israel, which contributed to the resounding success of Operation Midnight Hammer and Operation Epic Fury. We remain in close coordination with our Israeli partners.”

Israel first launched a major campaign against Iran in June 2025, with the United States later joining the fighting by striking the Fordow, Natanz and Isfahan nuclear facilities. On Feb. 28, the two allies launched a new, coordinated military campaign against Iran.

While Israeli leaders are openly presenting the military as ready for another campaign, some Israeli officials and analysts say there is little appetite for renewed fighting unless it produces a clear strategic result.

The public warnings may overstate Israel’s desire to reenter the fighting, said Israeli analyst and journalist for Israeli newspaper Yedioth Aharonoth, Nadav Eyal. 

“On the record, Israel is signaling that it is prepared and even eager to strike Iran. But off the record, sources are saying that it is anything but that,” Eyal told Fox News Digital. “The reason is clear: Any Israeli strike in Iran will lead to Iranian ballistic missile attacks against Israel.”

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US CLAWS BACK KEY CONCESSION TO IRAN AFTER FRESH ATTACKS ON COMMERCIAL SHIPS IN STRAIT OF HORMUZ

Benjamin Netanyahu, Israel’s prime minister, from left, US President Donald Trump and US Vice President JD Vance during a bilateral meeting in the Oval Office of the White House in Washington, DC, US, on Tuesday, Feb. 4, 2025. Trump insisted Egypt and Jordan will take in Palestinians from the Gaza Strip, dismissing the countries’ refusal to accept people from the war-shattered territory. Photographer: Shawn Thew/EPA/Bloomberg via Getty Images (Getty Images)

Eyal said the domestic political consequences could make Netanyahu reluctant to begin another round of fighting, particularly as Israel approaches another election.

“If these strikes are meant to provide meaningful, strategic change, it is something the prime minister can sell to the public,” Eyal said. “But if the intention is only to use Israel as leverage, why should Israelis again experience a couple of weeks or more of sitting in safe rooms and losing their summer vacations, children’s day camps and summer camps? That could play out badly for the prime minister politically.”

“The truth is that Israel was not really enthusiastic about another strike,” he added. “That doesn’t mean it is not going to happen. If President Trump demands that Netanyahu join, it is very hard to see the Israelis saying no. But right now, I don’t see any passion for it.”

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The diplomatic outreach continued even as Trump declared that the ceasefire with Iran was over.

“The Islamic Republic of Iran has asked us to continue ‘talks.’ We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!” Trump wrote in a post on Truth Social.

A source with knowledge of the situation told Fox News that Qatari negotiators have traveled to Iran, in coordination with the United States, to meet with Iranian officials in an effort to de-escalate the situation and create the conditions for negotiations to resume.

On Thursday, Netanyahu and Trump spoke by phone, according to the Israeli prime minister’s office, which said the two agreed to continue coordinating across several regional fronts. Trump briefed Netanyahu on American operations in the Gulf, the statement said.

NETANYAHU REJECTS REPORTS OF A RIFT WITH PRESIDENT TRUMP, SAYS THE TWO REMAIN ALIGNED ON IRAN

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A satellite image shows damage at the control tower in the port of Chabahar, Iran, July 9, 2026, after the U.S. military said July 8, 2026, it launched fresh strikes on Iran to keep the Strait of Hormuz open to shipping. ( 2026 PLANET LABS PBC/Handout via Reuters)

The military warnings came as the Wall Street Journal reported Friday that Israel had provided the United States with intelligence about what is described as a fresh Iranian plot to assassinate Trump.

The developments follow renewed attacks on commercial shipping in the Strait of Hormuz, where U.S. naval officials said the maritime threat remained “severe.” U.S. Naval Forces Central Command reminded commercial vessels Friday that an expanded southern route through the strait remained open and that no controlling authority could require ships to pay a fee for passage.

A U.S. official told Fox News on background that Iran’s attacks against commercial vessels were “acts of terrorism” and constituted failed performance under the memorandum of understanding between Washington and Tehran.

“The United States is still committed to finding a resolution, and technical talks continue,” the official said. “Iran can never possess a nuclear weapon.”

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Brig. Gen. Yossi Kuperwasser, a former senior Israeli military intelligence officer who now heads the Jerusalem Institute for Strategy and Security, said Israel had never regarded the memorandum as an adequate guarantee.

“From Israel’s perspective, the MOU was never a good deal,” Kuperwasser told Fox News Digital, speaking of the memorandum of understanding between the U.S. and Iran. 

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CENTCOM shared footage of strikes against airplanes amid Iran war (U.S. Central Command on X)

“Israel should be on high alert, ready to face an Iranian attack and prepared to strike back if necessary,” he added.

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For now, Israel’s leaders appear to be leaving Iran — and Washington — with little doubt that they are prepared to act. Whether the United States allows Israel to join the renewed campaign, however, could determine whether the latest confrontation remains limited or develops into another full-scale regional war.

Fox News Digital reached out to the White House for comment. 

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Belgium to introduce new road tax in 2027, even for transiting drivers

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Belgium to introduce new road tax in 2027, even for transiting drivers

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Belgium’s three regions announced on Friday that they would introduce a road tax next year that foreign drivers transiting the country would also have to pay.

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The country does not currently charge drivers to use its highways and the issue of introducing some form of payment has been debated for years.

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“Everyone who uses our roads must contribute fairly to their maintenance,” said the transport minister for the southern Wallonia region, François Desquesnes.

Starting on 1 May 2027 drivers will need to register their vehicle and pay the road tax, with day passes available for drivers driving across the country.

An annual pass for a zero-emission car will cost €90 and up to €125 for higher polluting vehicles.

Road cameras that catch cars that haven’t paid for a pass will incur a fine of €70.

In Belgium, the individual regions are responsible for maintaining roads and motorways.

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Currently, drivers can use almost all highways toll-free but the possibility of an introducing a charge has been under discussion for several years.

The revenue would be used for the operation and maintenance of the road network.

The proposed toll still needs final approval from the regions and European authorities.

According to the chairman of the liberal-conservative MR party, the government intends to offset the new toll by lowering other taxes for Belgians.

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Additional sources • AFP

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