Fashion supply hubs like Vietnam, Cambodia and Bangladesh face stiff duties
Nike revealed in June that its tariff costs could increase by $1 billion. (Photo by Mana Yumi)
TOKYO/FRANKFURT, Germany -- As U.S. President Donald Trump prepares to impose stiff tariffs on Vietnam, Cambodia and Bangladesh, apparel giants like Japan's Fast Retailing and Germany's Adidas that source garments from those countries are grappling with the prospects of having to raise prices in the U.S.
Vietnam, whose exports will be subject to 20% tariffs, is the largest producer of Adidas products sold in the U.S. The company has already seen a negative impact from U.S. tariffs "in the double-digit euro millions" (10 million euros equals $11.4 million) in the April-June quarter, CEO Bjorn Gulden said Wednesday.
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