Shares in companies that have large manufacturing operations in Vietnam, including Nike Inc. and Lululemon Athletica Inc., soared Friday after President Donald Trump said Vietnam was willing to eliminate tariffs to avoid new US levies.

The president’s statement helped boost shares in apparel brands Nike, Lululemon, and American Eagle — all of which have major operations in the country.

U.S. footwear and apparel companies, such as Nike, Lululemon, and Gap were getting crushed early Thursday. Blame high tariffs on Vietnam, Indonesia and Cambodia. Vietnam and Cambodia were the two countries worst hit by President Donald Trump’s reciprocal levies–46% and 49% rates,