New tariffs may hit the U.S. furniture industry hard
source:www.77d.cn
On December 11, according to foreign media surveys, the new round of tariff policies will have a profound impact on the U.S. furniture industry. 46% of the companies surveyed believe that the 25% tariffs on Canada and Mexico and the 10% tariffs on China will have a "very significant" impact on their business, 40% expect the impact to be "relatively significant", and only 2% think it will not. will be affected.
The survey found that the vast majority of businesses expect consumer prices and supply chain costs to rise, and are worried about rising inflation, production relocation, retaliatory tariffs, product shortages and job losses. 45% of respondents expect U.S. furniture sales to decline due to tariffs, but 13% believe that consumers buying in advance may lead to short-term sales growth. It is worth noting that 41% of respondents expect domestic manufacturers in the United States to benefit from increased domestic demand.