S&V Weekly Newsletter Vol.11 No.41, October 13 2025
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Trump’s massive China tariff has the US industry on edge as stocks take big dive
Extracts from Footwear News, 10 October 2025, 4:26pm
American President Donald Trump has imposed a new tariff of 100% on Chinese imports, starting 01 November and raising concern for the shoe industry.
Footwear has a new tariff headache, courtesy of U.S. President Donald J. Trump.
Trump early Friday threatened a round of “massive increase” of tariffs on Chinese imports to the U.S., according to a Truth Social post. The new threat centres on a dispute regarding rare earth minerals. Trump says that China wants to impose export controls, calling the move “Trade hostility” in the post. Following the close of market Friday Trump made good on that threat. Beginning Nov. 1, the President said the United States would impose a new tariff of 100% on imports from China “over and above any Tariff that they are currently paying.”
He also noted in the Truth Social post that America’s relationship with China over the past six months has been a “very good one,” saying this new move on trade was a “surprising one.” Trump said he was to meet with China’s President Xi Jinping in two weeks, but now suggest that the meeting might be cancelled.
Trump’s new threat sent the equity markets reeling on Friday over fears of a new tariff hike. At the close, the Dow Jones Industrial Average fell 878.82 points, or 1.9%, while the S&P 500 was down 182.60 points, or 2.7%.
Footwear stocks also fell on Friday, joining the overall market decline. Shoe stocks posting the largest declines were Caleres Inc., down 10.7%, or $1.42, to $11.85; Genesco Inc., off nearly 7%, or $1.95, to $26.08; Allbirds Inc., down 5.8%, or 36 cents, to $5.90, Steve Madden Inc., declining 5.1%, or $1.74, to $32.25 and Crocs, declining nearly 5%, or $3.69, to $76.70. Among the retailers, shares of Shoe Carnival fell 6.8%, or $1.36, to $18.59, Academy Sports and Outdoors Inc. was down 6.1%, or $3.22, to $49.38, and Dick’s Sporting Goods Inc. declined 5.5%, or $12.20, to $211.62.
The U.S. and China in August agreed to a second 90-day extension for ongoing bilateral trade talks. That gave footwear firms, and even consumers, a bit of breathing room for the holiday season. The first pause began in May.
Under the temporary pause, tariffs remain at 30%, down from 55%, but could have risen to as high as 145% for some goods if the pause had not been extended. As recently as late last month, one source told Footwear News that talks between the U.S. and other countries — including China and Vietnam, where much of the footwear industry produces its shoes — continue to be ongoing. And the thinking was that when the current extension is set to end mid-November, the two countries would agree to yet another 90-day extension.
What happens next is anyone’s guess.
“This news poses a significant threat to U.S. retailers and brands that still rely heavily on China for footwear production. China remains a dominant source for shoes imported into the U.S. Any disruption — whether tariffs, trade tensions, or logistics shocks — can quickly drive-up costs and create uncertainty for consumers,” said Matt Priest, president and CEO of the Footwear Distributors and Retailers of America.
Priest emphasized that while shoe firms have “learned from past challenges” and have become more resilient through shifts in their sourcing networks, the footwear supply chains are still highly complex and that China’s scale and efficiency would be difficult to replace.
Vietnam saw footwear exports to the U.S. fall in September, one month after the new tariff increase was implemented in August. The country is also the dominant producer of athletic performance shoes, becoming the beneficiary when firms moved out of China during Trump’s first term after he began hiking tariff rates on Chinese imports. Vietnam’s customs data from the Ministry of Finance showed that exports fell 27.3% to $611 million from $840 million in August.
The current tariff rate is 40%, comprised of the new 20% rate on top of the existing 20% rate. A preliminary trade deal between the U.S. and Vietnam was disclosed in July, but the finer points of the agreement still need to be ironed out. One source told Footwear News last month that those talks remain “ongoing.”
Reebok ‘back in team sports’
Cape Town, W. Cape, SA – Reebok is returning to sport, “and that’s the big news about the brand”, according to Peter-John ‘PJ’ Morilly, Reebok head of brand and sales at Bounty Apparel.
Globally, Reebok belongs to Authentic Brands Group, which bought it from Adidas in 2022, and shortly thereafter appointed the Bounty Brands Group subsidiary as its Southern Africa distributor.
“In the early 2000s Reebok was taken out of team sports to specialise in fitness, with CrossFit being a key authenticator in the space,” he said. “Reebok has a rich sports heritage in team sports like basketball and football, categories which can yield big commercial returns. The transition from subsidiary to distributor hasn’t been easy, but the confidence in the marketplace for the brand is back.”
He said it was already in basketball, golf and padel, and that it would launch football in 2026 Q3 and tennis in Q4. “From a local point of view, we’ll pursue football, rugby and basketball as grassroots level.”
Morilly headed the brand at Adidas SA. Thereafter he spent 2 years in Dubai before returning to head up Reebok at Bounty.
Nike’s recovery: ‘So far, baby steps’
Extract from an article headlined ‘Who’s responsible for these terrible cars, planes and shoes?’ on 05 October in Bloomberg
Nike, which has also had its share of design fiascos, has put a lot of money and effort into gaining a reputation as a very responsible company. After years of scandals over human rights, sweatshops and child labour in the 1990s, founder Phil Knight insisted in 2016 that Nike had become the “gold standard” for human rights and fair labour practices in manufacturing. ProPublica, the Washington Post, HuffPost, Humanity United, the Clean Clothes Campaign, Inequality.org, University of Oregon students and a whole bunch of others beg to differ.
Nike also put a lot of time and money, for some silly reason, into becoming a luxury brand under former CEO John Donahue. The new boss, Elliot Hill, has decided the athletic shoe brand should really be making shoes for, y’know, athletes. (Including Team Kim.) So far, it’s been baby steps:
“Hill has certainly made progress in reducing a mountain of unwanted sneakers, and winning back retailers,” Andrea reports. “But Hill acknowledged that Nike needed to do more on fashion-oriented sportswear and the sort of sneakers that may be designed for athletes but become huge hits outside of the gym or track. After all, sportswear companies are also fashion brands, and need to have a pipeline of fresh looks, just like Inditex SA’s Zara.”
Competing with Zara is a nice twist, because when it comes to how workers in its supply chain are treated, it may be the gold standard for terrible irresponsibility.
They Said It
"I hope no Silly Billys give me lip for that." - Gerrie de Jager, MD of Rosslyn Tannery, Pretoria, Gauteng, SA, after submitting comment to S&V African Leather on the ongoing issues with foot and mouth disease and its effect on the leather industry.
"Maybe it’s our generation of tanners that’s at fault for not educating people about leather because we never thought it would or could be under threat. I wish all this k@k could wait 15 years until I retire." - Quintin Marais, MD of Rolfes Leather, Boksburg, Gauteng, SA. Sorry, Quintin, we need your broad shoulders now.
Got anything you'd like to share?
Do you have any suggestions, comments or experiences about the industry that you'd like to share with the industry? - tony@svmag.co.za
New subscribers last week
Miguel, Product Specialist, Rebel Safety Gear, Germiston, Gauteng, South Africa
Martin Nefdt, Sales Agent, Martin Nefdt Agencies, Port Elizabeth, South Africa
Stella Heyns, Marketing Executive, Falke, Cape Town, South Africa
Felice Volonte, President, Volonte System Conveyor, Cirimido - Como, Italy
Birthdays this week
14/10/1947: Rodney Bryant, A Greenaways, Cape Town, W. Cape, SA.
14/10/1963: Siraaj Ahmed Hassim, Classic Hawkers Centre, Laudium, Gauteng, SA.
14/10/1964: Shirleen Joubert, formerly Edcon (closed), Durban, KZN, SA.
15/10/1949: Marianne McCulloch, retired, formerly Bolton Footwear, Oudtshoorn plant, W. Cape, SA.
15/10/1956: Joseph Chiang, Sogo Trading, Cape Town, W. Cape, SA.
15/10/1967: Mohammed Reyaz Moosa, Selrite Fashions, Kempton Park, Gauteng, SA.
15/10/????: Corrie Jurkewitz, Shoes & More, Gansbaai, W. Cape, SA.
16/10/1946: Hannes Harding, FC&T Supplies, Pretoria, Gauteng, SA.
17/10/1952: Elsa Carminati, Carmin & Co., Johannesburg, Gauteng, SA.
17/10/1968: Mehmood (Joe) Mohamed, Rodrigo Footwear, Durban, KZN, SA.
18/10/1967: Chetan Jeram, Concept Distributors, Pretoria, Gauteng, SA.
19/10/1966: Elize Strauss, Shoe ‘n Do, Reitz, Free State, SA.
18/10/xxxx: Justin Wallis, SHEQ Safety, Randfontein, Gauteng, SA.
19/10/1944: Peter Manley, Secure & Safe Supplies, Durban, KZN, SA.
19/10/1965: Björn Jönsson, emigrated, formerly Leather Systems SA, Johannesburg, Gauteng, SA.
In memoriam this week
13/10/2014: Kaps Singh (b. 08/04/1957), Famous Shoes, Pietermaritzburg, KZN, SA.
13/10/2020: Peter John Berry (b. 18/12/1935), retired, formerly Woolworths, Cape Town, W. Cape, SA.
15/10/????: Walter William ‘Wally’ Ballard (b. 28/11/1948), Reptile Trading Co, Cape Town, W. Cape, SA.
15/10/2016: Des de Wet (b. 03/12/1940), agent, Amanzimtoti, KZN, SA.
17/10/2005: Barney Dodo (b. 11/04/1914), Edworks group (closed), Johannesburg, Gauteng, SA.
18/10/2000: Manuel da Costa (b. 13/09/1930), the Superior Footwear Group (closed), Harare, Zimbabwe.
18/10/2016: Lenny Jacobs (b. 27/07/1946), Lenny Jacobs Sales, Johannesburg, Gauteng, SA.
19/10/2000: Bill Beckley, (b. 20/07/1927), agent, East London, E. Cape, SA.
19/10/2022: Odelle Hadnum (b. 17/06/1972), Chillisource, UK, formerly Durban, KZN, SA.
Have you let us know about your birthday, or the birthdays of your colleagues? Our readers love this section, so please become part of it. This also applies to the In Memoriam section. Help us remember former colleagues.
Directory entries updated last week
Brits Group of Companies: Brits Hides & Skins (Pty) Ltd, Brits, NW Province, SA.
Brits Group of Companies: OR Leathers, Brits, NW Province, SA.
Brits Group of Companies: Rosslyn Tannery [International Hide & Skin Traders (Pty) Ltd], Pretoria, Gauteng, SA.
Brits Group of Companies / Morgan Group of Companies: Brits Leathers (Pty) Ltd, Brits, NW Province, SA.
 
Exchange rates
Note: For previous rates, see HERE
1. SA Rand (ZAR)/Lesotho Loti (LSL)/Namibian Dollar (NAD)/Swazi Lilangeni (SZL)
Source: http://www.x-rates.com/calculator/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 05/07/2025 |
R20.70 |
R24.00 |
R17.58 |
R 2.45 |
| 12/07/2025 |
R20.93 |
R24.18 |
R17.90 |
R 2.49 |
| 19/07/2025 |
R20.60 |
R23.78 |
R17.72 |
R 2.46 |
| 28/07/2025 |
R20.82 |
R23.90 |
R17.81 |
R 2.48 |
| 04/08/2025 |
R20.79 |
R23.87 |
R17.98 |
R 2.50 |
| 09/08/2025 |
R20.62 |
R23.85 |
R17.74 |
R 2.49 |
| 17/08/2025 |
R20.59 |
R23.85 |
R17.60 |
R 2.45 |
| 24/08/2025 |
R20.44 |
R23.55 |
R17.43 |
R 2.43 |
| 30/08/2025 |
R20.62 |
R23.83 |
R17.65 |
R 2.47 |
| 06/09/2025 |
R20.59 |
R23.70 |
R17.57 |
R 2.46 |
| 13/09/2025 |
R20.38 |
R23.54 |
R17.37 |
R 2.43 |
| 20/09/2025 |
R20.36 |
R23.38 |
R17.33 |
R 2.43 |
| 27/09/2025 |
R20.30 |
R23.23 |
R17.34 |
R 2.43 |
| 04/10/2025 |
R20.21 |
R23.20 |
R17.22 |
R 2.41 |
| 11/10/2025 |
R20.26 |
R23.32 |
R17.46 |
R 2.44 |
2. Botswana Pula
Source: http://www.x-rates.com/calculator/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 05/07/2025 |
15.58 |
18.07 |
13.23 |
1.84 |
| 12/07/2025 |
14.77 |
17.07 |
12.64 |
1.76 |
| 19/07/2025 |
16.22 |
18.72 |
13.95 |
1.94 |
| 28/07/2025 |
15.81 |
18.16 |
13.53 |
1.88 |
| 04/08/2025 |
15.75 |
18.09 |
13.62 |
1.89 |
| 09/08/2025 |
16.58 |
19.17 |
14.26 |
1.98 |
| 17/08/2025 |
16.57 |
19.22 |
14.18 |
1.97 |
| 24/08/2025 |
16.89 |
19.45 |
14.40 |
2.01 |
| 30/08/2025 |
16.78 |
19.40 |
14.36 |
2.01 |
| 06/09/2025 |
16.45 |
18.93 |
14.04 |
1.96 |
| 13/09/2025 |
16.67 |
19.26 |
14.21 |
1.99 |
| 20/09/2025 |
16.63 |
19.10 |
14.16 |
1.99 |
| 27/09/2025 |
15.68 |
17.94 |
13.40 |
1.87 |
| 04/10/2025 |
16.58 |
19.03 |
14.12 |
1.98 |
| 11/10/2025 |
16.41 |
18.89 |
14.14 |
1.98 |
3. Malawian Kwacha (MWK) (buying)
Source: https://www.rbm.mw/
| |
Euro € |
GBP £ |
US $ |
ZAR |
| 05/07/2025 |
2082.80 |
2416.70 |
1717.02 |
100.70 |
| 12/07/2025 |
2065.11 |
2393.71 |
1717.02 |
99.44 |
| 19/07/2025 |
2054.50 |
2372.84 |
1717.02 |
99.43 |
| 28/07/2025 |
2072.89 |
2372.13 |
1717.02 |
99.60 |
| 04/08/2025 |
2043.89 |
2346.49 |
1717.02 |
98.34 |
| 09/08/2025 |
2059.63 |
2374.43 |
1717.02 |
99.76 |
| 17/08/2025 |
2063.52 |
2395.47 |
1717.02 |
100.69 |
| 24/08/2025 |
2050.79 |
2370.89 |
1717.02 |
99.83 |
| 30/08/2025 |
2062.64 |
2386.46 |
1717.02 |
99.78 |
| 06/09/2025 |
2064.05 |
2381.33 |
1717.02 |
99.85 |
| 13/09/2025 |
2074.13 |
2396.36 |
1717.02 |
101.76 |
| 20/09/2025 |
2082.09 |
2388.75 |
1717.02 |
101.85 |
| 27/09/2025 |
2065.29 |
2361.70 |
1717.02 |
101.40 |
| 04/10/2025 |
2072.36 |
2375.84 |
1717.02 |
102.32 |
| 11/10/2025 |
2046.37 |
2350.20 |
1717.02 |
102.44 |
4. Zambian Kwacha (ZMW) (buying)
Source: https://www.boz.zm/
| |
Euro € |
GBP £ |
US $ |
ZAR |
| 05/07/2025 |
28.57 |
33.11 |
24.25 |
1.37 |
| 12/07/2025 |
27.16 |
31.38 |
23.24 |
1.29 |
| 19/07/2025 |
26.77 |
30.91 |
22.95 |
1.29 |
| 28/07/2025 |
27.37 |
31.38 |
23.36 |
1.31 |
| 04/08/2025 |
Website would not open this morning |
| 09/08/2025 |
27.01 |
31.13 |
23.18 |
1.30 |
| 17/08/2025 |
27.13 |
31.48 |
23.21 |
1.31 |
| 24/08/2025 |
26.97 |
31.16 |
23.22 |
1.31 |
| 30/08/2025 |
27.47 |
31.69 |
23.55 |
1.32 |
| 06/09/2025 |
28.03 |
32.32 |
23.87 |
1.36 |
| 13/09/2025 |
27.88 |
32.25 |
23.81 |
1.36 |
| 20/09/2025 |
27.79 |
32.85 |
23.62 |
1.35 |
| 27/09/2025 |
27.79 |
31.82 |
23.77 |
1.36 |
| 04/10/2025 |
27.90 |
31.98 |
23.77 |
1.37 |
| 11/10/2025 |
26.22 |
30.10 |
22.66 |
1.31 |
5. Zimbabwe Gold (ZiG)
Source: Source: https://www.rbz.co.zw/
| |
Euro € |
GBP £ |
US$ |
ZAR |
| 05/07/2025 |
ZIG 31.68 |
ZIG 36.78 |
ZIG 26.89 |
ZIG 0.65 |
| 12/07/2025 |
ZIG 31.35 |
ZIG 36.40 |
ZIG 26.83 |
ZIG 0.66 |
| 19/07/2025 |
ZIG 31.13 |
ZIG 35.96 |
ZIG 26.80 |
ZIG 0.66 |
| 28/07/2025 |
ZIG 31.45 |
ZIG 35.98 |
ZIG 26.79 |
ZIG 0.66 |
| 04/08/2025 |
ZIG 31.02 |
ZIG 35.58 |
ZIG 26.79 |
ZIG 0.67 |
| 04/08/2025 |
Website would not open on Saturday |
| 17/08/2025 |
ZIG 31.17 |
ZIG 36.22 |
ZIG 26.78 |
ZIG 0.66 |
| 24/08/2025 |
ZIG 30.99 |
ZIG 35.83 |
ZIG 26.75 |
ZIG 0.66 |
| 30/08/2025 |
ZIG 31.20 |
ZIG 36.10 |
ZIG 26.75 |
ZIG 0.66 |
| 06/09/2025 |
ZIG 31.17 |
ZIG 35.93 |
ZIG 26.71 |
ZIG 0.66 |
| 13/09/2025 |
ZIG 31.35 |
ZIG 36.23 |
ZIG 26.72 |
ZIG 0.65 |
| 20/09/2025 |
ZIG 31.28 |
ZIG 35.99 |
ZIG 26.56 |
ZIG 0.65 |
| 27/09/2025 |
ZIG 31.03 |
ZIG 35.48 |
ZIG 26.57 |
ZIG 0.65 |
| 04/10/2025 |
ZIG 31.23 |
ZIG 35.81 |
ZIG 26.65 |
ZIG 0.64 |
| 11/10/2025 |
ZIG 30.91 |
ZIG 35.55 |
ZIG 26.71 |
ZIG 0.64 |
Note: For previous rates, see HERE
ABSA Agri Trends: Hides & skins prices
Johannesburg, Gauteng, SA (10 October 2025) – The current average hide price increased by 0.43% to R2.332/kg from R2.322/kg a week ago. The current price is 0.08% higher than the average price a month ago and was 15.9% lower than the average price a year ago. The range of prices reported was as follows: Minimum price: R2.25 Maximum price: R2.94. Please note: Our methodology weighs the prices we collect according to the number of hides they sell in a month. This is done to make it more representative of the prevailing market price. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies. - Marlene Louw, senior agricultural economist, Nkhensani Mashimbyi, agricultural economist, and Zama Sangweni, agricultural economist, ABSA group.
Note: For previous prices, see HERE
Have a look at these links
We invite businesses to send us links to websites, Facebook pages and the like which they feel would be of interest to others. The links below are from our database:
Ideals (Pty) Ltd, Durban, KZN, SA. Men’s and women’s apparel retailer.
Idube Safety [Zelpy 2937 (Pty) Ltd, Durban, KZN, SA. PPE reseller.
THIS WEEK LAST YEAR!
Footwear imports up 35% in first 8 months
Cross Trainer: Creditors’ meeting scheduled
Drip to close
AVI: Turnover up, profit down
VF Corporation investor day on 30 October
In case you missed it! : The September issue of S&V Footwear & Leather Goods Magazine
READ IT HERE - S&V Weekly Newsletter Vol.10 No.42, October 14 2024
THIS WEEK FIVE YEARS AGO!!
Retail
- Swaziland
-- Waiting for signs of an upturn
- South Africa
-- 'Let's hope we maintain the momentum'
-- October 'better than expected'
- Zimbabwe
-- A winter of discontent
READ IT HERE - S&V Weekly Newsletter Vol.6 No.41, Oct 12, 2020
NEWSLETTER ARCHIVE
All the past S&V Weekly Newsletters from January 2016 onwards are available in the newsletter archive.
VIEW THE ARCHIVE - CLICK HERE
Contact us
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za
Next newsletter: Monday 20 October, 2025. Ad and editorial deadline Friday 17 October.
SAFLIA enquiries: Tel 0800SAFLIA * Email info@saflia.co.za * Website http://www.saflia.co.za
Our website www.svmag.co.za
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