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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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Hantavirus-stricken cruise ship arrives at Tenerife in Spain’s Canary Islands

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Hantavirus-stricken cruise ship arrives at Tenerife in Spain’s Canary Islands

TENERIFE, Spain (AP) — A hantavirus-stricken cruise ship with more than 140 people on board has arrived at Tenerife, the largest of Spain’s Canary Islands, off the coast of West Africa, where the passengers and some of the crew are to disembark.

The World Health Organization, Spanish authorities and cruise company Oceanwide Expeditions have said that nobody on board the MV Hondius is currently showing symptoms of the virus. Three people have died since the outbreak, and five passengers who left the ship are infected with hantavirus, which can cause life-threatening illness.

As a hantavirus-stricken cruise ship is set to arrive at Granadilla port in Tenerife, Spain on Sunday morning, the WHO, Spanish authorities and cruise company Oceanwide Expedition are coordinating the disembarkation of passengers and some crew on ground.

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The ship will not dock but will remain at anchor, with people ferried off in small boats. Everyone disembarking will be checked for symptoms, and will only be taken off the ship once evacuation flights are ready to fly them to their destinations.

There are currently people of more than 20 different nationalities on board.

WHO Director-General Tedros Adhanom Ghebreyesus, along with Spain’s health and interior ministers, were to be supervising the evacuation of the ship. Authorities have said the passengers and crew members who will disembark will have no contact with the local population.

Hantavirus usually spreads when people inhale contaminated residue of rodent droppings and isn’t easily transmitted between people. But the Andes virus detected in the cruise ship outbreak may be able to spread between people in rare cases. Symptoms usually show between one and eight weeks after exposure.

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North Korea updates constitution to require automatic nuclear strike if Kim Jong Un is assassinated: report

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North Korea updates constitution to require automatic nuclear strike if Kim Jong Un is assassinated: report

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North Korea has updated its constitution to require a retaliatory nuclear strike if leader Kim Jong Un is assassinated, according to a report.

The Telegraph reported the change comes amid heightened global tensions following the killing of Iran’s Supreme Leader Ali Khamenei and other officials during a recent conflict.

Khamenei was killed in an Israeli strike in Tehran as part of a coordinated U.S.-Israeli military operation earlier this year, Fox News Digital previously reported.

The constitutional revision was approved during a session of North Korea’s Supreme People’s Assembly, which opened March 22 in Pyongyang, the outlet said.

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ISRAEL TARGETS IRAN’S SUPREME LEADER IN SWEEPING STRIKES AS US JOINS ‘OPERATION EPIC FURY’

North Korea launched two cruise missiles and three anti-ship missiles from the destroyer Choe Hyon on Sunday, April 12, 2026, according to North Korean state media. (Korean Central News Agency/Korea News Service/AP)

South Korea’s National Intelligence Service (NIS) briefed senior government officials this week on the update, according to the report.

The revised policy outlines procedures for retaliatory action if North Korea’s leadership is incapacitated or killed.

“If the command-and-control system over the state’s nuclear forces is placed in danger by hostile forces’ attacks … a nuclear strike shall be launched automatically and immediately,” the updated provision states.

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KIM JONG UN CALLS SOUTH KOREA ‘MOST HOSTILE ENEMY,’ SAYS NORTH COULD ‘COMPLETELY DESTROY’ IT

North Korean leader Kim Jong Un delivers a speech at the inauguration ceremony of Saeppyol Street in Pyongyang on Feb. 15, 2026. (KCNA via KNS/AFP)

Reuters previously reported that North Korea revised its constitution to define its territory as bordering South Korea and remove references to reunification, reflecting Kim’s push to formally treat the two Koreas as separate states.

That marked the first time North Korea included a territorial clause in its constitution.

Last month, Kim pledged to further strengthen the country’s nuclear capabilities while maintaining a hard-line stance toward South Korea, which he has called the “most hostile” state.

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Kim Jong Un reportedly observed missile test launches in North Korea on Sunday, April 12, 2026. (Korean Central News Agency/Korea News Service)

Kim has also accused the United States of “state terrorism and aggression,” and signaled North Korea could take a more active role in opposition to Washington amid rising global tensions.

Fox News Digital’s Alex Nitzberg and The Associated Press contributed to this report.

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Iran warns US against attacks on tankers; Israel kills dozens in Lebanon

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Iran warns US against attacks on tankers; Israel kills dozens in Lebanon
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