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

Over the past few years, the world’s largest sneaker companies have increasingly expanded their sourcing footprint in countries like Vietnam to diversify production outside of China. But with the Trump administration’s “Liberation Day” tariffs taking aim at manufacturing hubs across Southeast Asia,

Apparel makers reliant on Asian sourcing got hammered on Thursday, slammed by President Donald Trump’s hefty retaliatory tariffs.