Key Takeaways Nike shares plunged Thursday amid concerns the Trump administration’s recently announced reciprocal tariffs could weigh on the company's profits.Since breaking down below the neckline of a head and shoulders pattern last June,

Top U.S. brands like Nike have spent years shifting away from Chinese factories, but the new tariffs now threaten Southeast Asian supplies.

Vietnam produces roughly half of Nike sneakers and would be subject to 46 percent tariffs under Trump's announced plans.

Nike Inc. Cambodia, where Abercrombie & Fitch Co. gets about one-fifth of its merchandise, faces a 49% rate. Indonesia, where Japan’s Panasonic Holdings Corp. is among producers, is hit with 32%. The scale and breadth of tariffs suggests that Trump and his advisors have learned from the 2018-19 tariffs,

Retailers and brands have turned to Vietnam to manufacture goods from sneakers to couches while moving some or all production out of China.

Shares of companies like Nike, Adidas, and Puma plummeted after U.S. President Donald Trump announced new tariffs. The decision hits particularly hard in Vietnam, where American Nike employs over 450,