Adidas and Puma suffer from tariff fears due to Trump's election victory
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Business
Investors avoided shares in sportswear manufacturers Adidas and Puma on Wednesday. While Puma still had quarterly figures to process, the prospect of Donald Trump returning to the White House was seen as a particular burden. According to surveys and forecasts by American media, the Republican has won the presidential election in the US.
Adidas was down 2.6 percent in the morning and Puma was down 4.5 percent. According to experts, Puma's third-quarter report more or less met expectations. However, concerns that the two German manufacturers could soon suffer from higher tariffs on their US business were a burden. As part of his "America First" policy, Republican Trump announced during the election campaign that he wanted to protect the US economy with tariffs on imported goods.
According to one trader, Adidas could be somewhat better positioned than Puma to cushion higher tariffs. According to the stockbroker, it is not so much the tariffs on German imports that are relevant, but rather those that Trump may impose on imports from China. Adidas has already reduced the share of US imports from China to 14 percent, but for Puma it is significantly higher at around 32 percent, according to the market participant. (DPA)
This article originally appeared on FashionUnited.DE. It was translated to English using an AI tool called Genesis and edited by Rachel Douglass..
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