🔗 Share this article New US Presidential Tariffs on Kitchen Cabinets, Timber, and Furniture Take Effect Multiple fresh American levies targeting imported kitchen cabinets, vanities, lumber, and specific furnished seating are now in effect. Under a proclamation signed by Chief Executive Donald Trump recently, a ten percent import tax on soft timber foreign shipments came into play on Tuesday. Import Duty Percentages and Future Increases A twenty-five percent tariff will also apply on imported kitchen cabinets and bathroom vanities – increasing to fifty percent on the first of January – while a 25% import tax on upholstered wooden furniture is scheduled to grow to 30%, unless new trade agreements get finalized. Trump has cited the necessity to protect domestic industries and security considerations for the decision, but various industry players are concerned the duties could elevate housing costs and make customers delay home renovations. Defining Customs Duties Tariffs are taxes on foreign products usually imposed as a portion of a good's price and are remitted to the American authorities by businesses shipping in the items. These companies may transfer a portion or the entirety of the extra cost on to their customers, which in this case means ordinary Americans and other US businesses. Previous Duty Approaches The president's tariff policies have been a key feature of his latest term in the White House. The president has previously imposed industry-focused taxes on metal, copper, aluminium, automobiles, and car pieces. Consequences for Northern Neighbor The extra worldwide ten percent duties on softwood lumber signifies the commodity from the northern neighbor – the major international source worldwide and a significant American provider – is now tariffed at over forty-five percent. There is currently a total 35.16% US offsetting and trade remedy levies applied on most Canada-based manufacturers as part of a years-old conflict over the commodity between the both nations. Bilateral Pacts and Exemptions Under existing bilateral pacts with the US, duties on lumber items from the United Kingdom will not exceed 10%, while those from the European community and Japanese nation will not surpass fifteen percent. White House Explanation The presidential administration says Trump's import taxes have been put in place "to guard against threats" to the US's national security and to "enhance industrial production". Industry Worries But the Residential Construction Group commented in a release in the end of September that the fresh tariffs could raise housing costs. "These fresh duties will generate further obstacles for an presently strained homebuilding industry by even more elevating construction and renovation costs," said leader Buddy Hughes. Seller Viewpoint Based on an advisory firm senior executive and senior retail analyst Cristina Fernández, stores will have little option but to increase costs on foreign products. During an interview with a broadcasting network in the previous month, she said retailers would seek not to raise prices excessively before the holiday season, but "they are unable to accommodate 30% tariffs on alongside previous levies that are currently active". "They'll have to shift costs, likely in the shape of a significant price increase," she added. Furniture Giant Reaction In the previous month Swedish home furnishings leader Ikea stated the levies on furniture imports make operating "more difficult". "These duties are impacting our business in the same way as other companies, and we are carefully watching the developing circumstances," the company remarked.