Fresh tariffs on upholstered furniture, kitchen cabinets and bathroom vanities recently announced by President Trump on social media could cause already high prices to rise even further, and deter some Americans from embarking on home renovation projects.
Some higher-end furniture is manufactured in the U.S., and therefore less exposed to tariffs, according to Telsey Advisory Group managing director and senior retail analyst Cristina Fernández. She said retailers will have no choice but to raise prices on imported goods once the tariffs take effect. “They are trying not to raise prices too much ahead of holiday season. But they can’t absorb 30% tariffs on top of other tariffs that are already in place,” she told CBS News. “They’ll have to pass through pricing, probably in the form of a double-digit price increase.”
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