06:28 AM EDT, 04/03/2025 (MT Newswires) -- Nike ( NKE ) shares were down more than 9% in recent premarket activity Thursday, a day after US President Donald Trump announced tariff hikes on several major apparel-exporting countries.

Trump said after the market closed on Wednesday that he will impose a 46% tariff on Vietnam, a 49% tariff on Cambodia, a 37% tariff on Bangladesh, and a 32% tariff on Indonesia, as well as 54% tariffs on all Chinese imports into the US.

Nike ( NKE ) sources a large portion of its products from these countries, and the tariff changes are expected to raise supply chain costs.