A new goal for Donald Trump. The US president announced the launch of an investigation into the importation of furniture in the United States, in order to increase the taxes of these goods in October, as reported by CNN. “In 50 days, this survey will close and the furniture from other countries will be taxed at a rate that will be determined,” Donald Trump wrote in a message about Truth Social.
This announcement occurs when the Trump administration already plans to increase customs tariffs in imported products such as copper, semiconductors and pharmaceutical products. The US president has already imposed customs duties in cars or steel and aluminum.
The price of ascending furniture
If the US president was carrying out his threats, the price of furniture could increase even more for US consumers. The prices have already risen in recent months, after the establishment of customs duties imposed by Donald Trump in countries such as China and Vietnam, two of the main exporters. These two countries imported $ 12 billion in furniture and accessories last year, according to data from the United States Ministry of Commerce.
The prices of furniture and bedding, an important category followed by the consumer price index, increased by 0.4 % in June and 0.9 % in July, after large prices largely deflationary since the end of the pandemic. The other furniture, including those of the office, leisure and terrace, registered high increases in monthly prices with +1.5 % in May, +1.6 % in June and +1.5 % in July.
After Donald Trump’s announcement, the actions of the big furniture and household items, including Wayfair and Williams-Sonoma launched on Friday night. On the other hand, the action of L-Z-Boy, most of which are found in production in the United States, has progressed following the announcement.
Source: BFM TV
