U.S. Imposes 46% Tariff on Vietnamese Imports

The U.S. has announced a 46%

on imports from Vietnam, starting April 9. This move affects industries like footwear, furniture, and toys, as Vietnam is a major supplier to the U.S.

The footwear industry will be

, with nearly 33% of U.S. shoe coming from Vietnam in 2023. Nike, which produces 25% of its products in Vietnam, saw its stock drop over 6% after the announcement.

The furniture sector is also

, as 26.5% of U.S. imports in this are from Vietnam. Online retailer Wayfair’s stock fell 12%. In the toy industry, companies like Hasbro and Mattel rely on Vietnamese factories, and the new tariff could lead to higher prices in the U.S.

Retailers are preparing for the impact, with American Eagle Outfitters’ CEO emphasizing

in response to these changes.