(Reuters) - Shares in Nike, Adidas and Puma dropped sharply on Thursday after U.S. President Donald Trump imposed a raft of new tariffs, including on Vietnam, Indonesia, and China, key sourcing markets for the sportswear companies.

Vietnam was targeted with a 46% tariff rate, Cambodia with 49%, Bangladesh with 37% and Indonesia with 32%, while Trump hiked tariffs on China by an extra 34 percentage points, after earlier 20% tariffs.

"Sportswear brands will be disproportionately impacted by higher tariffs on Vietnam," said Cedric Rossi, analyst at Bryan Garnier.

Frankfurt-listed shares of Nike were down 6.5% on the day, while Adidas shares dropped 9% to an almost one-year low and Puma shares fell 8.5%, hitting their lowest level since November 2016.

Nike produced half its footwear and 28% of its apparel in Vietnam in its 2024 financial year, while Adidas relied on Vietnam for 39% of its footwear and 18% of its apparel last year.

For Adidas, Indonesia and Cambodia are also key manufacturing hubs, producing 32% of its footwear and 23% of its apparel, respectively.