WASHINGTON (AP) — President Donald Trump has signed a New Year’s Eve proclamation that postpones increased tariffs on upholstered furniture, kitchen cabinets, and vanities for an additional year, attributing the decision to ongoing trade discussions. This proclamation, enacted on Wednesday, maintains the existing 25% tariff that was put into effect in September, while delaying a 30% tariff on upholstered furniture and a 50% tariff on kitchen cabinets and vanities that was originally scheduled to take effect on January 1.
The move comes as part of a broader strategy imposed by the Republican president to address trade imbalances through a range of taxes on imported goods. Trump has emphasized the necessity of these tariffs on furniture to 'bolster American industry and protect national security.'
This delay signifies the latest twist in the tumultuous landscape of Trump's tariff policies, which have seen him announce levies often without prior warning, only to subsequently adjust or delay them as negotiations evolve. This ongoing policy roller coaster reflects the complexities of international trade relations in the current economic climate.
The move comes as part of a broader strategy imposed by the Republican president to address trade imbalances through a range of taxes on imported goods. Trump has emphasized the necessity of these tariffs on furniture to 'bolster American industry and protect national security.'
This delay signifies the latest twist in the tumultuous landscape of Trump's tariff policies, which have seen him announce levies often without prior warning, only to subsequently adjust or delay them as negotiations evolve. This ongoing policy roller coaster reflects the complexities of international trade relations in the current economic climate.
