The United States is preparing to impose tariffs on imported furniture following an ongoing investigation, President Trump confirmed in a post on Truth Social. He stated that "furniture coming from other countries into the United States will be tariffed at a rate yet to be determined," describing the move as a step to "bring the furniture business back" to key manufacturing states.
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The probe, set to conclude within 50 days, could reshape global trade flows. Trade advisor Peter Navarro criticised India over its purchase of Russian oil and predicted a 50% punitive tariff on the country, while warning that existing tariffs are set to double on 27 August.
China voiced support for India, with Ambassador Xu Feihong stating that "China firmly opposes" the US tariffs, highlighting growing cooperation between the two countries.
Meanwhile, Canada announced plans to drop retaliatory tariffs to align with US exemptions under the United States-Mexico-Canada trade pact, while the US and European Union recently finalised a deal introducing a 15% tariff on most EU imports, including autos and lumber. Analysts suggest that upcoming negotiations with Canada, Mexico, and China will be pivotal in shaping the next phase of US trade policy.
Source: www.hfbusiness.com
