03-04-2025
Asian Exporter Shares With Vietnam Factories Drop on US Tariffs
Shares of Asian companies that manufacture goods in Vietnam slid after US President Donald Trump slapped higher-than-expected tariffs on the Southeast Asian nation.
The stocks of Japanese sneaker maker Asics Corp., South Korean packaged food firm Daesang Corp. and other companies with production lines in Vietnam tanked after Trump imposed a 46% tariff on the country, one of the US's highest 'reciprocal' rates. Asics plunged as much as 11%, while Daesang, which increased its manufacturing capacity in Vietnam last year, shed more than 7%. Asian suppliers of Nike Inc. and Adidas AG also slumped.
