An investigation by the Trump administration could soon result in Trump imposing furniture tariffs. On August 22, the president announced a “major” tariff investigation on furniture entering the US. The potential rate has not been determined yet, and the examination will happen over the next 50 days. With Trump recently enforcing country-specific tariffs , it is unclear if he will apply the furniture tax on top of them. A white house official also announced it will happen under the Section 232 national security code. Recently, Trump expanded the scope of the Section 232 levy to include steel and aluminum imports. Given the amount of furniture countries import into the US, the tariffs could majorly impact international shipping. Why Is Trump Imposing Furniture Tariffs? Trump is pushing furniture tariffs for various reasons in his “America First” agenda. A primary goal is to encourage domestic manufacturing by raising import costs. This could stimulate the economy by creating...
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