Top U.S. brands like Nike have spent years shifting away from Chinese factories, but the new tariffs now threaten Southeast Asian supplies.

Nike shares fell 6% after President Trump announced reciprocal tariffs of 46% on Vietnam, 32% on Indonesia and 34% on China. Suppliers in Vietnam, Indonesia and China make 95% of the sneaker company’s manufactured goods.

For years, China’s southern neighbor was a popular alternative for companies trying to avoid the crossfire of U.S. trade tensions with Beijing.