Overview
- An executive order signed on September 29 imposed new duties on wood, upholstered furniture and kitchen cabinets starting October 14, with rates of 10% on softwood lumber and 25% on many finished goods.
- Higher phases are scheduled for January 1, 2026, including a rise to 30% on upholstered furniture and up to 50% on kitchen cabinets and parts.
- Dealers report immediate price shocks, with some imports effectively taxed around 30% on invoices, forcing businesses to absorb costs or raise prices.
- Tariff rates vary by country and can change during transit, creating uncertainty for shippers and complicating pricing and logistics.
- Fine art is exempt under IEEPA but most decorative objects are not, pushing sales away from the U.S. and exposing European dealers at U.S. fairs to duties even when items go unsold.