Sneaker producers, automakers and retail giants are facingtumult in their international operations as President Donald Trumppushes ahead with a dramatic overhaul of U.S. trade policy.

His decision not to join the Trans-Pacific Partnership andpledge to renegotiate the North American Free Trade Agreement areforcing companies to rethink supply chains and capital investmentsin a new era of protectionist policies. Trump's moves weigh heavilyon importers such as Nike Inc. and Ford Motor Co. as he seeks toboost domestic manufacturing and create jobs.

“Any company right now that is global is trying to understandwhat will change,” said Simeon Siegel, an analyst with InstinetLLC, a New York broker. The effect on supply chains, taxes and coststructures “is obviously very much in question.”