Updates shares throughout, adds analyst comments in paragraphs 3, 5 and 6, company comment in paragraph 11

By Helen Reid

April 3 (Reuters) - Shares in Nike NKE.N, 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 Vietnam, Indonesia, and China, key sourcing markets for the sportswear companies.

Vietnam was targeted with a 46% tariff rate, Cambodia with 49%, Bangladesh with 37% and Indonesia with 32%, while Trump hiked tariffs on China by an extra 34 percentage points, following the earlier 20% tariffs.

The companies may not be able to fully offset these tariffs as countering the impact of the levies on Vietnam alone would require price increases of 10% to 12%, according UBS analysts.

In the past few years, footwear companies and retailers have diversified their supply chain away from China due to escalating political tension between Washington and Beijing and imported more from countries including Vietnam, Thailand and India.

"With additional tariffs proposed across other key Asian sourcing hubs, the scenario of shifting production now looks far less viable, narrowing the set of effective mitigation levers available to brands," the UBS analysts added.

The U.S. imported more than $15 billion in textiles and garments from Vietnam in 2024, which was roughly about 10% of Vietnam's total US exports, according to a Jefferies note.

Nike produced half its footwear and roughly 30% of its apparel in Vietnam in its 2024 financial year, while Adidas relied on the Asian nation for 39% of its footwear and 18% of its apparel last year.

Shares of Nike tumbled about 8% in premarket trading, while Adidas dropped 9% to an almost one-year low. Puma's shares fell 8.5% to hit their lowest level since November 2016.

Indonesia and Cambodia are also key manufacturing hubs for Adidas, producing 32% of its footwear and 23% of its apparel, respectively, in 2024.

Rival sportswear makers, including Lululemon LULU.O, Skechers SKX.N, Under Armour UAA.N, Hoka maker Deckers DECK.N and On Holding ONON.N were all down between 8% and 15% before the bell on Thursday.

Nike, Adidas and Puma did not reply to requests for comment on the tariffs, while On Holding said it was "constantly monitoring the evolving situation".

Retailers that rely on Asian factories were also hit.

Shares of U.S. giants Walmart WMT.N and Amazon AMZN.O were down about 6% and 5% respectively, while shares in Sweden's H&M HMb.ST, which sources from China and Bangladesh mainly, were down 4.5%, while Zara owner Inditex ITX.MC fell 3%.

(Reporting by Isabel Demetz, Helen Reid, Linda Pasquini and Aishwarya Venugopal; Editing by Amanda Cooper, Tomasz Janowski and Sriraj Kalluvila)

((Isabel.Demetz@thomsonreuters.com;))