China's share of the global footwear trade is eroding as buyers diversify sourcing, according to World Footwear. At the same time, the value of footwear imports into the United States is rising, opening room for alternative supplier countries.
China's official manufacturing PMI rose to 50.3 in June from 50.0, beating the 50.1 forecast, according to the National Bureau of Statistics reported by TradingView. Growth was concentrated in AI-linked high-tech exports, while retail and property demand stayed weak.
Foshan, which produces an estimated 35% of China's furniture, is enduring its worst crisis in decades. About 300 companies collapsed in 2025 as U.S. tariffs above 30% hit roughly $10 billion in exports and a property slump crushed domestic demand.
US tariffs are pushing Chinese furniture exports away from the American market and towards Europe, which has overtaken the United States as the top destination. Furnilytics data show US imports from China down 30.8% in 2025 while EU imports rose 13.3%.
US President Donald Trump has renewed a threat to impose furniture tariffs of up to 200 per cent, aimed at reviving production in North and South Carolina. Analysts cited by the South China Morning Post say the measure could cut Chinese exports without reshoring output, and risks reigniting tensions just as a US-China trade truce had been extended.
Prices of tungsten, sulfur and helium have jumped sharply as the Iran war compounds China's export controls and stockpiling, CNBC reported. Tungsten has more than tripled since December to above $3,000, China sulfur reached $621 per tonne, and helium has roughly doubled. All three are critical to semiconductor and defense manufacturing.
Global food-commodity prices rose to their highest in more than three years in April, up 1.6% on the month, as the Iran war shut the Strait of Hormuz and squeezed diesel and fertilizer. Researchers at Purdue warn the energy-driven shock is broad, lagged and sticky, potentially adding 3-6 points to food inflation over 12-18 months.
Agricultural prices are climbing as Middle East tensions and reduced tanker traffic through the Strait of Hormuz push up energy, fertilizer and freight costs. Wheat is nearing a two-year high, while soybeans and corn diverge on demand, according to Anadolu Ajansı, WSJ and Agrolatam.
The White House is considering a temporary waiver of the Jones Act as domestic fuel prices climb, according to law firm Husch Blackwell. The measure would let foreign-flagged tankers move fuel between US ports, easing bottlenecks tied to Middle East supply disruptions. Any waiver would be temporary and targeted rather than a change to US shipping law.
Iron ore futures climbed back above CNY 740 per ton after reports that workers at BHP's Port Hedland terminal in Western Australia plan an eight-hour strike on July 16. The walkout at the world's largest iron ore export hub, plus fresh Chinese restrictions on Fortescue, has revived supply-disruption concerns.
Ukrainian drones struck a dozen 'shadow fleet' tankers over two days as they delivered fuel to Crimea, Kyiv's military said. Eight sanctioned vessels of about 7,000 deadweight tons each were hit in the Sea of Azov, with more strikes on logistics and energy infrastructure amid a fuel emergency on the peninsula.
Asia-U.S. East Coast container rates rose 8% to $7,998 per FEU and West Coast rates 8% to $6,175, driven by early peak-season demand rather than Strait of Hormuz oil risk, FreightWaves reported. Trans-Pacific rates are up 120% to the West Coast since mid-May.
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