Donald Trump Announces New Tariffs: Expanding Trade Duties on Furniture and Other Sectors
The President of the United States, Donald Trump, has announced a sweeping plan to impose new trade tariffs on a range of imported goods, notably including furniture.
This move marks another step in his administration’s ongoing efforts to protect domestic industries.
Trump stated that within 50 days, a thorough investigation will be concluded, which will determine the new tariff rates.
According to his social media posts, the purpose of these measures is to boost the American furniture manufacturing sector, although immediately, they caused stock prices of retail furniture companies to plummet, with some U.S.
producers remaining relatively unaffected.
Details regarding the investigation remain unclear, particularly whether it is conducted under Section 232 of the Trade Expansion Act, which allows imposing tariffs based on national security concerns.
Additionally, Trump announced an increase in tariffs for Canada up to 35% and the implementation of reciprocal tariffs for multiple countries.
These actions intensify the international trade tensions, extending the scope of sectors affected by possible tariffs.
The U.S.
Department of Commerce is already investigating potential tariffs on pharmaceuticals, semiconductors, aircraft, critical minerals, medium-duty trucks, and timber.
Just yesterday, the administration began a national security review of wind energy equipment imports—an industry Trump has publicly criticized, citing aesthetic concerns near his Scottish golf courses.
Previously, Trump had already introduced tariffs on steel, aluminum, copper, and automobiles.
These measures are part of a broader strategy aimed at protecting domestic manufacturing while reshaping the country’s trade policies toward a more protectionist stance, sparking concerns among international allies and business communities.