New tariffs imposed by the Trump administration on imported furniture, kitchen cabinets and other household goods, as well as lumber, took effect Tuesday, bringing additional costs that economists say could raise prices for consumers.
Mr. Trump announced the trade measures on September 29, saying the taxes are intended to prevent such foreign-made products from “flooding” the United States.
“This is a very unfair practice, but we must protect, for national security and other reasons, our manufacturing process,” Mr. Trump wrote on social media at the time.
Levies on imported wood products and furniture range from 10% to 50%.
Although Trump administration officials say the tariffs are largely paid by foreign exporters, most economists say Americans bear the brunt of the additional costs.
If recently imposed and upcoming tariffs had the same impact on domestic prices as U.S. taxes implemented earlier this year, then consumers would end up absorbing about 55% of the additional costs, Goldman Sachs estimated in an analysis this week. U.S. companies would absorb 22% of the additional costs, while foreign exporters would absorb 18% of the expenses, the investment bank’s economists said.
President Trump said raising import duties would restore fairness to global trade, boost U.S. manufacturing and increase federal revenues. White House spokesman Kush Desai told CBS News on Tuesday that tougher U.S. tariffs are already benefiting the economy by incentivizing businesses to expand in the United States.
“The position of the President and his administration has always been clear: Although Americans may face a transition period from tariffs to the upheaval of a broken status quo that has put America last, the cost of tariffs will ultimately be borne by foreign exporters,” Desai said in a statement. “Companies are already changing and diversifying their supply chains in response to tariffs, including by relocating production to the United States.”
Tariffs imposed by the Trump administration have so far proven less disruptive than expected, the International Monetary Fund said Tuesday, although the full impact of the policies may not be felt for some time. Although the U.S. and global economies have performed better than expected, it is too early to say they are completely out of the woods, the organization said.
Economists have warned that taxes on furniture, lumber and related household items would likely increase costs for consumers building or renovating a home. Recent inflation data showed that prices of living room, kitchen and dining room furniture – much of which is imported – increased by 9.5% between August 2024 and August 2025, driven by US tariffs by country, according to economists.
Prices for furniture and bedding increased 4.7% over the same period, while the cost of home furnishings and supplies increased 2.8%.
