Trump vows to impose furniture tariffs. What would that mean for prices? [View all]
Source: ABC News
President Donald Trump in recent days threatened to slap tariffs on furniture, which would extend the president’s levies to an industry made up largely of low-cost imports.
The move would likely raise furniture prices as importers pass along a portion of the tax burden to consumers, analysts told ABC News, but some suppliers may ease the price pressure by swallowing costs in an effort to remain competitive in the robust U.S. market.
The details of the proposed policy remain unknown, analysts said, making it difficult to forecast the extent of the price hikes.
“If tariffs go into place, it almost certainly will increase prices for furniture – to furnish that new house or upgrade the couch the dog destroyed or whatever it might be,” Tyler Schipper, a professor of economics at the University of St. Thomas, told ABC News.
Read more: https://abcnews.go.com/Business/trump-vows-impose-furniture-tariffs-prices/story?id=124948334
Orange Anus claims this will bring the furniture industry back to the US.
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