Trump hails 'very productive' call with Vietnam leader

Products are not made in one place,

Martinetto says

European designers could end up selling mostly in Europe,

he says

Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the US,

Trump said on Truth Social

Air Force 1s, which currently cost $115, and other Nike shoes are predicted to go up in price after Trump’s tariffs on China and Vietnam.”

Another predicted rising costs

Nintendo stock jumped after Trump announced on Truth Social that he had spoken with Vietnam about making a deal on tariffs.”

One noted

Since Vietnam already has low tariffs on us and already buys very little from us, getting their tariffs on us down to 0 is a drop in the bucket compared to Trump’s enormous tariffs.” ... I predict 25% chance President Trump announces pause on Vietnam tariffs before close of market today (65% by end of next week) in respect for Vietnam's good faith suggestion of going to zero tariffs.”

A third user dismissed the gesture, saying ... Meanwhile, one user speculated

The 32 percent really came as a surprise and I think our government was caught off guard,

said Jason Hsu, senior fellow at the Hudson Institute think-tank and a former legislator in Taiwan for the opposition Kuomintang party

It is dangerous for everyone to have the most powerful country in the world going back to isolationism and trying to tame (a) China that is inevitably going to take over its world leadership position,

he added

Vietnam has proven its ability to play the geopolitical game very skillfully,

said Johannes Loefstrand, a portfolio manager at T. Rowe Price, in an interview with Reuters

If tariffs are extended there, then Nike's got a problem,

said Morningstar analyst David Swartz, according to Reuters

We're all kind of nervous about Vietnam,

Nasim Fussell, senior vice president at the lobbying firm Lot Sixteen, said at a recent industry event ... according to Fashion Dive

We are deeply disappointed by the Trump Administration’s decision to impose new tariffs on all imports,

the trade group United States Fashion Industry Association said in a statement

David Frenchamerican attorney, conservative journalist

More tariffs equal more anxiety and uncertainty for American businesses and consumers,

said David French, executive vice president of government relations for the National Retail Federation, in a statement after the announcement

We will pry open foreign markets and break down foreign trade barriers, and ultimately, more production at home will mean stronger competition and lower prices for consumers,

the US president said in his address

David Frenchamerican attorney, conservative journalist

Tariffs are a tax paid by the US importer that will be passed along to the end consumer,

said David French, executive vice president of government relations at the National Retail Federation

Shifting supply chains is not an option given performance footwear requires a very specific skill set and factories,

said Poonam Goyal, an analyst at Bloomberg Intelligence

The impact of the Trump tariffs [on] company profits and cashflows depends to a large degree upon how long the duties stay in place and the company and industry in question,

Russ Mould, investment director at AJ Bell, told CNBC by email

I can't eat or sleep well because I keep worrying about losing my job,

said 38-year-old Cao Thi Dieu, a worker at a factory in Ho Chi Minh City that makes shoes for brands such as Nike and Adidas

Especially in the textile industry, we did not anticipate (this). I thought that since Vietnam is a smaller country, the US would not impose such (high) tariffs,

said Tung

Most manufacturers are not here to game the system,

said Martin