
Nike, Inc. (NYSE:NKE) shares are trading higher Wednesday, along with other apparel stocks, following President Donald Trump‘s announcement of a new trade agreement with Vietnam, a key manufacturing hub for the fashion and apparel industry.
What To Know: Trump's deal imposes a 20% U.S. tariff on Vietnamese imports but gives American companies tariff-free access to Vietnamese markets in return. It also includes a 40% tariff on goods transshipped through Vietnam.