As U.S. tariffs expand under Donald Trump’s new trade policy, Vietnam — once a key alternative to China for manufacturing — now faces a 46% duty starting April 9, impacting major industries from apparel and footwear to furniture and toys. The move threatens to raise costs for companies like Nike, Adidas, Deckers, VF Corporation, Steve Madden, Wayfair, and Funko, many of which had shifted production to Vietnam to mitigate earlier China-related tariffs. With rising consumer price sensitivity and ongoing inflation, businesses are now reassessing their supply chains again, unsure where to turn next as trade tensions escalate.