US President Donald Trump said he will impose new tariffs on countries that manufacture furniture outside the United States, framing the move as a way to revive North Carolina’s once-thriving furniture industry.“In order to make North Carolina, which has completely lost its furniture business to China, and other Countries, GREAT again, I will be imposing substantial Tariffs on any Country that does not make its furniture in the United States. Details to follow!!!” Trump posted on his social media platform Truth Social.
The announcement follows Trump’s earlier decision to impose a 50% tariff on imported kitchen cabinets and vanities, as well as a 30% duty on upholstered furniture, both of which are set to take effect on October 1.
Shares of US-based furniture companies that rely on imports slipped after the announcement, Reuters reported on September 26, while domestic manufacturers like La-Z-Boy and Ethan Allen initially saw gains.According to Reutersindustry executives, however, have raised concerns about whether US production capacity can meet demand. Companies like Williams-Sonoma and RH, which rely on overseas suppliers, warned that scaling up domestic manufacturing would take years of investment in new facilities and workers.
The announcement follows Trump’s earlier decision to impose a 50% tariff on imported kitchen cabinets and vanities, as well as a 30% duty on upholstered furniture, both of which are set to take effect on October 1.
Shares of US-based furniture companies that rely on imports slipped after the announcement, Reuters reported on September 26, while domestic manufacturers like La-Z-Boy and Ethan Allen initially saw gains.According to Reutersindustry executives, however, have raised concerns about whether US production capacity can meet demand. Companies like Williams-Sonoma and RH, which rely on overseas suppliers, warned that scaling up domestic manufacturing would take years of investment in new facilities and workers.
(With inputs from Reuters)
(Edited by : Ajay Vaishnav)
