Sporting goods makers Adidas, Puma slump after Trump announces tariffs
ReutersApr 3, 2025 7:10 AM
April 3 (Reuters) - Shares in Adidas ADSGn.DE and Puma PUMG.DE dropped sharply on Thursday after U.S. President Donald Trump imposed a raft of new tariffs, including on key sourcing markets for the sporting goods companies.
The European Union was targeted with a 20% rate, Vietnam with 46%, Cambodia with 49%, Bangladesh with 37% and Indonesia with 32%, while China is facing 54% tariffs.
Adidas was down 9% to nearly one-year low, Puma slumped 11% to its lowest since November 2016 at 0706 GMT.
Frankfurt-listed shares of Nike NKE.F were also down 6.5% on the day.
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