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Trump announces 30% tariff on upholstered furniture
Photo by AdobeStock
Photo by AdobeStock
Trump announces 30% tariff on upholstered furniture
HIGH POINT — President Trump announced a new 30% tariff on upholstered furniture imports on Thursday, taking effect on Oct. 1.
At this time, it is unclear whether the new tariffs will be in addition to previously announced tariffs. In addition to the upholstered furniture tariffs, Trump also announced new tariffs on branded drugs, heavy-duty trucks, kitchen cabinets and bathroom vanities.
In a social post, Trump wrote, “The reason for this is the large scale ‘FLOODING’ of these products into the United States by other outside countries. It is a very unfair practice, but we must protect, for national security and other reasons, our manufacturing process.”
Citing Furniture Today research, Reuters reported that “imports to the U.S. hit $25.5 billion in 2024, up 7% from the year before,” adding that “about 60% of those imports came from Vietnam and China.”
Shares for some home furniture retailers, including Wayfair, Williams Sonoma and RH were lower late Thursday following the news, reports noted.
