• Loading stock data...
Friday, July 11, 2025

Trump Halts Tariffs That Threatened Sports Apparel Industry

Faced with a market meltdown, Trump hit pause on most of the tariffs announced last week. Sportswear company shares surged immediately.

USA Today

President Donald Trump announced on his Truth Social account that he will place a 90-day pause on some tariffs, walking back his announcement last week.

Stocks soared because of the news. 

Trump said he’s raising the tariff for Chinese imports to 125% “based on the lack of respect that China has shown to the World’s Markets.” He also said because “more than 75 countries” have engaged in some measure of negotiation with the U.S.—and because they have not responded to U.S. tariffs with retaliatory tariffs of their own—he’s authorizing a 90-day pause, and a “substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.” 

The higher tariffs on China came after Beijing announced new tariffs on the U.S. to take effect Thursday.

On April 2, Trump said he would impose tariffs on other countries the U.S. has steep trade imbalances with, including a 20% tariff on the European Union, 36% on Thailand, and 24% on Japan. News reports emerged over the past week about a handful of leaders of various countries trying to work with the administration to mitigate some of the tariff hit.

Vietnamese leader To Lam spoke with Trump, offering to get rid of tariffs on American goods in exchange for easing the 46% tariff Trump planned to impose on it. Following Trump’s first-term tariffs, which predominantly targeted China, Vietnam has largely replaced China as the main sourcing country for athletic footwear imports—which is why shares of so many retailers, including Nike, Adidas, and Lululemon saw their shares pummeled last week. 

The S&P 500 index closed Wednesday more than 9% higher, the Nasdaq surged 12%, and the Dow Jones Industrial Average closed nearly 8% higher.

Nike ended the day more than 11% higher, Adidas climbed more than 12%, Under Armour soared 14%, Lululemon increased nearly 11%, and On Holdings—which produces almost all of its sneakers in Vietnam—surged more than 15%. Amer Sports, which owns brands including Wilson, Louisville Slugger, and Salomon, closed 15% higher.

At a White House visit for auto racing champions, Trump was asked whether he’d consider exempting certain companies that would be particularly hard hit by tariffs. “There are some by the nature of the company, they get hit a little bit harder, and we’ll take a look at that,” he responded.

Carsten Brzeski, global head of macro for ING Research, wrote in a note Wednesday that any celebration was premature before deals with Europe and China—the U.S.’s most important trading partners after Canada and Mexico—were negotiated.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The Florida State Seminoles hosted the Florida Gators at Doak Campbell Stadium on Saturday, Nov. 30, 2024.

Athletic Departments Express Renewed Interest in PE in Wake of House Settlement

Schools now have more expenses—and are looking for creative solutions.
Caster Semenya

Caster Semenya’s Legal Win Could Reopen Fight Against Testosterone Limits

The Olympian champion’s appeal against gender eligibility rules continues.
Gareth Bale
exclusive

Gareth Bale Group Makes New Offer for Cardiff City 

Bale tells Front Office Sports his group has made another bid.
Hall of Fame Open at the International Tennis Hall of Fame, Newport.

Andy Roddick Slams Billionaire Bill Ackman’s Pro Tennis Gambit

“This was the biggest joke I’ve ever watched in professional tennis.”

Featured Today

Jun 28, 2025; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) bats during the game between the Texas Rangers and the Seattle Mariners at Globe Life Field.

The Torpedo Bat Business Is Still Going Strong: ‘Here to Stay’

Demand for the oddly shaped bats has stayed strong across the sport.
July 6, 2025

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
July 5, 2025

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
July 4, 2025

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
A Lululemon store at Freehold Raceway Mall in Freehold Township, New Jersey on Nov. 30, 2023

Sportswear Stocks Rise as Trump Touts Vietnam Trade Deal

Tariffs on Vietnam imports will be 20%, down from a prior threat of 46%.
Jun 20, 2024; Eugene, OR, USA; Detailed view of Nike Alphafly 3 racing flat at the Nike by Eugene store.
June 25, 2025

Investors Hunt for Signs Nike Has Regained Its Footing

Nike’s fundamentals are “still challenged.”
From vintage to unique collaborations, various Nike and Jordan shoes are displayed on a wall at Saved Soles inside West Ridge Mall.
June 26, 2025

Nike Stumbles Less Than Expected, Giving Wall Street Hope

The sports apparel and footwear giant beats Wall Street expectations.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Jun 15, 2025; Oakmont, Pennsylvania, USA; JJ Spaun putts on the 18th green to win during the final round of the U.S. Open golf tournament.
June 16, 2025

‘Pandemonium’: Putter Maker Sees Sales Surge After JJ Spaun’s U.S. Open Win

The company behind Spaun’s putter is already in talks with his people.
June 13, 2025

U.S. Open Merch Pops Thanks to Oakmont’s Squirrel, Viral TikToks

There are more than 400,000 pieces of merchandise available at Oakmont.
Tom's Watch Bar
June 12, 2025

How the Pacers and Caitlin Clark Boosted One Bar’s Bottom Line

Tom’s Watch Bar hosted John Haliburton for at least five games.
June 12, 2025

U.S. Open Cashing In on Signature Cocktail Trend With Lemon Wedge

Last year, the whiskey cocktail was served more than 50,000 times.