Tyler Schipper, an economist and associate professor in the College of Arts and Sciences at the University of St. Thomas, spoke to ABC News about the implication of furniture tariffs. The Trump administration has threatened to tax American companies that import furniture.
From the story:
President Donald Trump in recent days threatened to slap tariffs on furniture, which would extend the president’s levies to an industry made up largely of low-cost imports.
The move would likely raise furniture prices as importers pass along a portion of the tax burden to consumers, analysts told ABC News, but some suppliers may ease the price pressure by swallowing costs in an effort to remain competitive in the robust U.S. market. ...
“If tariffs go into place, it almost certainly will increase prices for furniture – to furnish that new house or upgrade the couch the dog destroyed or whatever it might be,” Tyler Schipper, a professor of economics at the University of St. Thomas, told ABC News.
