By Colin Kellaher
Nike shares moved higher, recouping some of Thursday's losses, on hopes of a reduced hit from President Trump's tariffs on Vietnam.
Shares of the Beaverton, Ore., footwear maker were recently up 4.8%, to $58.26, late Friday morning.
Trump, who levied tariffs of 46% on Vietnam this week, said he had a call with Vietnam leader To Lam, who wants to cut Vietnam's tariffs down "to ZERO if they are able to make an agreement with the U.S."
Shares of Nike, which gets 95% of its manufactured goods from suppliers in Vietnam, Indonesia and China, fell more than 14% on Thursday after Trump unveiled steep tariffs on all three countries.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 04, 2025 11:59 ET (15:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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