US President Donald Trump has postponed tariff increases on upholstered furniture, kitchen cabinets, and vanities, easing the pace of his collections amid growing voter dissatisfaction with price levels, Bloomberg reports, writes UNN.
Details
The White House released a fact sheet on the presidential order late Wednesday while Trump was hosting a New Year's Eve party at his Mar-a-Lago estate in Florida.
The increased tariffs were due to take effect on Thursday, but will now take effect on January 1, 2027, according to the fact sheet.
Under a September order, Trump initially ordered tariffs on "certain types of softwood products" to be raised from 25% to 30% from January 1, and tariffs on kitchen cabinets and vanities from 25% to 50%. His order on Wednesday postponed this decision, and the existing 25% tariff remains in effect, the White House press service said.
According to the fact sheet, the US "continues to engage in productive negotiations with trading partners to address trade reciprocity and national security issues regarding imports of wood products," suggesting that negotiations could lead to agreements on further deferral of new tariffs.
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