Published by Global Banking & Finance Review®
Posted on April 3, 2025
3 min readLast updated: January 24, 2026
Add as preferred source on GoogleMajor retailers like Walmart and Nike face tariff impacts on Asian supply hubs, with Vietnam, Cambodia, and Bangladesh being key sources.
By Juveria Tabassum
(Reuters) - President Donald Trump's move to impose sweeping tariffs on U.S. imports could force major retailers to raise prices on products ranging from apparel and footwear to electronics as supply hubs Vietnam, Cambodia and Bangladesh reel from fresh levies.
Here are some of the Asia suppliers for retailers.
WALMART
Walmart remains the biggest U.S. importer. About 60% of its imports, particularly items such as clothing, electronics and toys, are from China. In recent years, the retailer has diversified its supply chain to source from countries such as Vietnam, one of its top five suppliers, and India, reducing its exposure to China from 80% in 2018, according a Reuters report in November 2023.
TARGET
Country Exposure
China About 50% of company's total
suppliers
India About 6%
Indonesia 3%
Cambodia 3%
(As of August 2024)
Source: Supplier list at Target's website
NIKE
Country Exposure
China 18% footwear, 16% apparel
Vietnam 50% footwear, 28% apparel
Indonesia 27% footwear
Cambodia 15% apparel
(As of May 31, 2024)
Source: Annual filing
LULULEMON ATHLETICA
Country Exposure
Vietnam 42% of all products
Indonesia 10% products
Cambodia 16% products
Sri Lanka 12% fabrics, 11% products
China 26% fabrics
Taiwan 40% fabrics
Bangladesh 8% products
(As of 2023)
Source: Annual filing
ADIDAS
Country Exposure
Vietnam 27% of Adidas' total volume
Indonesia 19%
China 16%
(As of 2024)
Source: Annual filing
PUMA
The German sportswear group said in its 2024 annual report that its business model relies on outsourced manufacturing from six Asian countries including China, Vietnam, Cambodia, Bangladesh, Indonesia and India. These countries together accounted for 91% of total production volume in 2024, down from 94% in 2023, the company told Reuters.
Country Exposure
China 28% of Puma's total production
volume
Vietnam 26%
Cambodia 16%
Bangladesh 11%
Indonesia 6%
India 4%
(As of 2024)
Source: Company statement to Reuters
ABERCROMBIE & FITCH:
Country Exposure
Vietnam 34% of company's total merchandise
receipts
Cambodia 19%
India 12%
China 9%
(As of fiscal 2023)
Source: Annual filing
GAP
Country Exposure
Vietnam 29% of fiscal 2023 purchases by
dollar value
Indonesia 18%
China less than 10% products sourced in
2024
(As of fiscal 2023)
Source: Annual filing
LEVI STRAUSS
While 23% of Levi's total apparel suppliers are in China, less than 1% of products sold in the U.S. are directly sourced from China, the company said in an annual filing.
Country Exposure
Vietnam 9% of company's total apparel
suppliers
Bangladesh 7%
India 16%
China 23%
Source: Supplier map on Levi's website
BEST BUY
About 60% of Best Buy's total annual cost of goods sold are exposed to China, according to a recent note from Morgan Stanley.
China and Mexico are the two lead sources for the company's products, with about 2% to 3% of its overall assortment directly imported from the countries, the company said on a post-earnings call in March.
Source: Company filings, analysts' notes, earnings calls
(Reporting by Juveria Tabassum in Bengaluru; Additional reporting by Helen Reid; Editing by Shounak Dasgupta)
The article discusses the impact of tariffs on major retailers' supply hubs in Asia, focusing on countries like Vietnam, Cambodia, and Bangladesh.
Retailers like Walmart and Nike may raise prices due to increased tariffs on imports from Asian supply hubs.
Vietnam, Cambodia, and Bangladesh are key suppliers for major retailers like Walmart, Nike, and Best Buy.
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