US apparel makers, including Gap Inc and Levi’s, are facing a new challenge with China tariffs after years of efforts to diversify their supplier base. Despite CEO claims of reduced exposure, shares fell 22% for Gap and 11% for Levi’s, amidst rising costs in Southeast Asia and ongoing trade conflicts.
Source: https://fortune.com/2025/04/03/gap-nike-levis-tariffs-retail-stocks