Keystone-SDA
US President Donald Trump announced on Friday the launch of a procedure that could ultimately lead to the establishment of new sectoral customs rights, this time on furnishings. The rate has not yet been set.
(Keystone-ATS) “I am happy to announce on us will launch an important survey on customs duties on incoming furniture in the United States. In the next fifty days, the survey will be carried out and these furniture taxed at a rate that remains to be determined, “wrote Donald Trump on his social social network.
In addition to the customs duties applied to all the products entering the United States and those, higher targeting products from the country’s 90 main business partners, including Switzerland, the American president has already more specifically targeted a certain number of sectors, which he considers to be strategic or important to the American economy.
Steel, aluminum, cars
Thus, steel and aluminum has been imposed 25%, before rising to 50% in recent months, while the automotive sector is concerned by a surcharge of 25%, with certain exceptions however, since the agreement with the European Union incorporates for example a ceiling of 15% on all European products.
But it has threatened other sectors with an even higher rate: thus semiconductors could gradually increase to 100% in the coming years, while pharmaceutical products could go up to 250%. An investigation is also underway concerning construction wood and copper.
According to World Bank data, Vietnam, China and Mexico were the main countries of origin of furniture sold in the United States in 2023.
The ten biggest furnishings in the United States, which represent more than 90% of the volume of furniture entering the country, are all already targeted by customs duties superior to the floor of 10% now applied to all products entering American soil.