Rising prices for sports goods made in Asia will be felt by American consumers after US President Donald Trump’s latest tariffs on China and its neighbours, Hong Kong experts predicted on Friday.
China and several Southeast Asian nations heavily involved in manufacturing for the world’s biggest sports brands were targeted by the United States in the tariffs announced on Wednesday.
Cambodia, Vietnam, China and Indonesia were hit with 49, 46, 34 and 32 per cent tariffs respectively on their exports to the US – potentially affecting the products of the likes of Nike, Adidas, Under Armour, Lululemon, On Holdings, Amer Sports and Hoka, all of which have some form of production in the region.
Nike’s 2024 annual report stated that Vietnam, Indonesia and China manufactured 50, 27 and 18 per cent respectively of its shoes in the preceding year. Vietnam also produced 28 per cent of the American company’s clothing, with China and Cambodia making 16 and 15 per cent respectively.
But Vera Yuen Wing-han, an economics lecturer at the University of Hong Kong, said that the impact on prices would harm American consumers.
“The tariff has been added to many countries, so it does not favour Vietnam, China or Cambodia,” she said. “But it’s too expensive to produce locally in America, so they will have to import, they have to buy, even if it’s a higher price.”
