US luxury and footwear firms fall; China retaliates with 34% import tariffs

Foot Locker

04/04/2025 13:13

** Shares of U.S. luxury and footwear companies drop premarket

** China retaliates with 34% import tariffs on all U.S. goods in response to tariffs imposed by President Donald Trump

** On Wednesday, President Donald Trump announced new tariffs on countries in Asia including Vietnam, Indonesia and China, which are production hubs for these firms

** Shares of companies such as Nike NKE.N and Estee Lauder EL.N, which export goods to China, have been taking a hit

** Ralph Lauren RL.N shares plunge about 8%, while Capri CPRI.N shares dip 2%

** EL and Tapestry TPR.N shares down about 8% each

** NKE down about 8%, U.S.-listed shares of Skechers SKX.N and Foot Locker FL.N fall about 7% each

** Shares of Deckers Outdoor DECK.N and Crocs CROX.O down about 6% each

 (Reporting by Anuja Bharat Mistry in Bengaluru)

 ((AnujaBharat.Mistry@thomsonreuters.com;))