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WASHINGTON (AP) — In a move coinciding with New Year’s Eve, President Donald Trump announced a postponement of increased tariffs on several goods, including upholstered furniture, kitchen cabinets, and vanities, for an additional year. This decision aligns with ongoing trade negotiations.
On Wednesday, Trump endorsed an order maintaining a 25% tariff on these items, initially levied in September. However, the potential increase to a 30% tariff on upholstered furniture and a 50% tariff on kitchen cabinets and vanities has been deferred for another year.
These planned tariff hikes, originally scheduled to begin on January 1, are part of a broader strategy by the Republican president to impose taxes on imported products, aiming to rectify trade imbalances and other related concerns.
The president has said the tariffs on furniture are needed to “bolster American industry and protect national security.”
The delay is the latest in the roller coaster of Trump’s tariffs wars since he returned to office last year, with the president announcing levies at times without warning and then delaying or pulling back from them just as abruptly.
