Vietnam’s footwear exports to the U.S. fell 27% to $611 million in September, down from $840 million in August, following new U.S. tariffs. Since 2019, many footwear companies shifted manufacturing from China to Vietnam, with Nike producing approximately 50% of its footwear there and Adidas nearly 40%. President Donald Trump announced retaliatory tariffs initially at 46%, later reduced to 20%, though actual rates are higher. On Holding CEO Martin Hoffmann disclosed his company pays 40%. Allbirds began reducing Vietnam inventory purchases from May. Despite declines, Vietnam’s overall U.S. exports decreased just 1.5% to $13.7 billion.