WASHINGTON, Sept 29 (Reuters) - U.S. President Donald
Trump on Monday said details were forthcoming on tariffs for
furniture imports, after announcing levies of up to 50% on such
goods last week.
"I will be imposing substantial Tariffs on any Country that
does not make its furniture in the United States. Details to
follow," Trump said in a social media post, noting lost business
in North Carolina.
Trump announced a 50% tariff on imported kitchen cabinets
and vanities, along with a 30% levy on upholstered furniture,
which are set to take effect on October 1.
The import duties will make it more challenging for
companies to hold down prices, while executives in the industry
have raised concerns over the lack of manufacturing capacity in
the United States, as the country relies heavily on imports from
China, Mexico and Vietnam.
Chief executives at Williams-Sonoma ( WSM ) and RH, formerly
known as Restoration Hardware, have both raised concerns about
higher tariffs in recent earnings calls.
Prices for everything from clothes to TVs have gone up in
recent months as manufacturers and retailers struggle with the
ever-changing tariff environment while also trying to offset
rising commodity and supply-chain costs.