Puma Speedcat OG and Adidas Gazelle sneakers are displayed at a store in Paris, France, January 24, 2025. REUTERS
April 3 (Reuters) – Shares in Adidas (ADSGn.DE), and Puma (PUMG.DE), dropped sharply on Thursday after U.S. President Donald Trump imposed a raft of new tariffs, including on key sourcing markets for the sporting goods companies.
The European Union was targeted with a 20% rate, Vietnam with 46%, Cambodia with 49%, Bangladesh with 37% and Indonesia with 32%, while China is facing 54% tariffs.
Adidas was down 9% to nearly one-year low, Puma slumped 11% to its lowest since November 2016 at 0706 GMT.
Frankfurt-listed shares of Nike were also down 6.5% on the day.
Reporting by Isabel Demetz; Editing by Amanda Cooper
