On Shares Plunge 3.17% as Trump Tariff Fears Push Daily Trading Volume to 314th Rank

On August 1, 2025, On (ONON) traded with a daily volume of $0.41 billion, ranking 314th in market activity, while its shares fell 3.17%. The decline was attributed to broader market pressures linked to President Trump’s aggressive tariff announcements, which targeted key trade partners including Canada, Brazil, and South Korea. The U.S. imposed tariffs ranging from 10% to 50% on imports, triggering volatility in global markets and pressuring footwear stocks, including On Running. Analysts highlighted that the sector faces elevated risks from shifting trade dynamics and potential supply chain disruptions.

The tariff measures, which took effect or are scheduled for August 7, intensified concerns over rising production costs and reduced cross-border demand for premium athletic footwear. On, alongside peers like Nike and Deckers, saw its valuation pressured as investors recalibrated expectations for global sales. Reports indicated that footwear stocks were among the most vulnerable to Trump’s “reciprocal” tariff framework, which could spur retaliatory measures from trade partners. The sector’s exposure to international markets made it particularly sensitive to policy-driven trade frictions.

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