President Donald Trump's move to impose sweeping tariffs on U.S. imports could force major retailers to raise prices on products ranging from apparel and footwear to electronics as supply hubs Vietnam, Cambodia and Bangladesh reel from fresh levies.
Here are some of the Asia suppliers for retailers.
WALMART (WMT.N)
Walmart remains the biggest U.S. importer. About 60% of its imports, particularly items such as clothing, electronics and toys, are from China. In recent years, the retailer has diversified its supply chain to source from countries such as Vietnam, one of its top five suppliers, and India, reducing its exposure to China from 80% in 2018, according a Reuters report in November 2023.
TARGET (TGT.N)
(As of August 2024)
Source: Supplier list at Target's website
NIKE (NKE.N)
(As of May 31, 2024)
Source: Annual filing
LULULEMON ATHLETICA (LULU.O)
(As of 2023)
Source: Annual filing
ADIDAS (ADSGn.DE)
(As of 2024)
Source: Annual filing
PUMA (PUMG.DE)
The German sportswear group said in its 2024 annual report that its business model relies on outsourced manufacturing from six Asian countries including China, Vietnam, Cambodia, Bangladesh, Indonesia and India. These countries together accounted for 91% of total production volume in 2024, down from 94% in 2023, the company told Reuters.
(As of 2024)
Source: Company statement to Reuters
ABERCROMBIE & FITCH (ANF.N):
(As of fiscal 2023)
Source: Annual filing
GAP (GAP.N)
(As of fiscal 2023)
Source: Annual filing
LEVI STRAUSS (LEVI.N)
While 23% of Levi's total apparel suppliers are in China, less than 1% of products sold in the U.S. are directly sourced from China, the company said in an annual filing.
Source: Supplier map on Levi's website
BEST BUY (BBY.N)
About 60% of Best Buy's total annual cost of goods sold are exposed to China, according to a recent note from Morgan Stanley.
China and Mexico are the two lead sources for the company's products, with about 2% to 3% of its overall assortment directly imported from the countries, the company said on a post-earnings call in March.
Source: Company filings, analysts' notes, earnings calls
