(Michael M. Santiago/Getty Images)

Shares of Nike, Lululemon, other retailers rebound as Vietnam signals tariff truce with the US

President Trump and Vietnamese leader To Lam say they plan to “soon sign a bilateral agreement” to eliminate tariffs.

4/4/25 4:48PM

Apparel stocks staged a comeback Friday after President Trump said Vietnam is ready to scrap tariffs to avoid sweeping new US levies.

“I had a very productive call,” Trump posted on social media, adding that Vietnam “wants to cut their tariffs down to zero.” The update sent shares of Nike and Lululemon — both heavily reliant on Vietnamese manufacturing — soaring, along with names like Gap, Abercrombie & Fitch, Kohl’s, and Victoria’s Secret.

It was a sharp reversal from Thursday’s sell-off, when Trump slapped a 46% tariff on Vietnamese imports. Nike plunged 13% to its lowest close in nearly eight years, while On Holding and Skechers also sank double digits. Vietnam’s government said both sides “will continue talking to soon sign a bilateral agreement,” and confirmed that Trump has accepted an invitation to visit.

The country’s willingness to engage could pressure other Southeast Asian production hubs like Indonesia and Cambodia to get to the table, analysts say. Vietnam’s trade surplus with the US topped $123 billion last year — giving it plenty of incentive to make a deal.

Max Knoblauch20h

The Trump administration is reportedly planning a 50% made-in-America requirement for USMCA tariff relief

Qualifying for USMCA-related lower tariffs may soon require more US-made vehicle components, according to reporting by The Wall Street Journal.

The Trump administration is reportedly planning to introduce a 50% US content requirement for vehicles covered by the trade pact to receive lower tariffs. The content would be measured by cost, according to the WSJ.

There currently isn’t any US-specific requirement for those lower tariff rates, but in order to receive preferential tariffs, vehicles are must contain at least 75% regional content (components made in North America). Per Reuters reporting, the Trump admin is seeking to raise the regional requirement to 82%.

These reported plans are subject to change as the US negotiates USMCA terms with Mexico over the next few months.

Overall, Tesla will likely have the easiest time qualifying for any stricter requirements. The automaker’s vehicles contained the highest amount of US/Canadian content in 2025, according to American University research. Ford, GM, and Stellantis all scored lower.

Notably: the underlying government data that many domestic content measurements rely on intentionally combines US and Canadian components, so it’s difficult to know exactly how much of any given vehicle is specifically US-made.

Exclusive | Trump Administration Wants Autos Under USMCA to Be at Least 50% Made in America

These reported plans are subject to change as the US negotiates USMCA terms with Mexico over the next few months.

Tom Jones5/29/26

The $640,000 Luce makes the average Ferrari look like a bargain

Put aside the shape; put aside the smoothing out of Ferrari’s iconic sharp edges; put aside, even, the calls from former Chairman and President Luca Cordero di Montezemolo to “take the Prancing Horse off.” On the grounds of price alone, Luce detractors might have a point.

By now, many of us will have read the criticisms of Ferrari’s first fully electric vehicle, as the Luce — which was unveiled to the world earlier this week and promptly saw the company’s shares crash out in New York and Milan — gets subtly shaded by competitors online and not-so-subtly shaded by basically everyone else.

What makes all of this worse for Ferrari is that, even by the luxury car maker’s notoriously high standards, they’ve slapped a pretty hefty price tag on the Luce, and the company’s CEO, Benedetto Vigna, has already been forced to defend the €550,000 ($640,000) price point, saying yesterday that it’s “fair to pay for innovation,” per Reuters.

While Ferrari’s cars have been getting more expensive of late, as recently as 2022, Ferrari’s average revenue per car sold was around $340,000. At nearly twice that price, this new electric model is obviously proving a little much (visually, conceptually, and financially) for many loyal and long-standing fans of the Prancing Horse to stomach.