U.S. President Donald Trump slapped 46% reciprocal tariffs on all imports from Vietnam, where Samsung Electronics manufactures half of its smartphones, and 54% tariffs on imports from China, where Apple produces 90% of its iPhones.

Trump’s sweeping “reciprocal” tariffs on dozens of countries announced on April 2 have ignited fears of steep price increases and forced manufacturers to reassess their supply chain strategies.

Until now, companies have relied on countries like China, Vietnam, and India to manufacture goods, capitalizing on lower labor and production costs. However, the Trump administration has labeled these countries as “worst offenders” that contribute to the U.S. trade deficit and has imposed tariffs ranging from 30% to 50%.

Experts say this could lead to massive shifts in global manufacturing as companies must now analyze the specific reciprocal tariffs imposed on each country, factor in production, procurement, and logistics costs, and devise response strategies. “Korea and its regional partners, including Japan and Taiwan, should consider joint negotiations with the U.S. and explore collaborative frameworks to mitigate risks,” said Yeo Han-koo, a senior fellow at the Peterson Institute for International Economics.

Global companies have been scrambling to interpret the so-called “Trump tariffs chart” to assess the impact on their competitiveness and how to respond.

Samsung Electronics and Apple, rivals in the U.S. smartphone market, are in a tight spot. Samsung produces half of its smartphones in two plants in Vietnam, Bac Ninh and Thai Nguyen, which are now subject to a 46% reciprocal tariff. China, where Apple produces around 90% of its iPhones, now faces 54% tariffs.

“Samsung is relatively better positioned to respond to tariffs because it has production bases in South Korea, India, and Brazil,” said an industry insider. “Apple, on the other hand, relies heavily on China and faces a more complex restructuring.”

The automotive sector is also bracing for a fallout. Hyundai Motor and Kia sold 1.84 million vehicles in the U.S. last year. Of all the cars sold, 1.02 million were made in South Korea, 670,000 in the U.S., and 150,000 in Mexico. The Trump administration decided to impose a 25% tariff on vehicles produced outside the U.S. starting April 3, which will likely affect Hyundai’s price competitiveness. Although the company recently boosted its U.S. production capacity to 1 million units, roughly 54% of its American sales, it will take several more years to expand further.

Rivals Ford and Honda produce 79% and 65% of their U.S. sales in America. “Toyota and Honda’s U.S. production capacity is around 4 million units, which puts Hyundai at a disadvantage,” said Lee Hang-gu, a researcher at the Korea Automotive Technology Institute. “These companies will likely respond to the tariffs by ramping up their U.S. production.”

The fashion industry is also feeling the heat. Korea’s leading shoe and textile makers, Youngone Trading and Hansae operate large-scale manufacturing facilities in Vietnam and across Southeast Asia.

“Korean, Chinese and Taiwanese garment manufacturers depend heavily on factories in Vietnam and other countries in Southeast Asia, so it’s not accurate to say we are uniquely disadvantaged,” said an executive at an apparel company with a plant in Vietnam. “But relocating production to countries with lower tariffs could be more expensive than absorbing the tariffs. We’re still crunching the numbers to weigh the costs.”