Trump Imposes Steep Tariffs on Chinese Furniture and Goods Amid Trade War Escalation, Threatening Global Economic Stability
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Trump Imposes Steep Tariffs on Chinese Furniture and Goods Amid Trade War Escalation, Threatening Global Economic Stability
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According to NextBigFuture, the Congressional Budget Office projects that the series of tariff increases implemented between January 6 and August 19, 2025, will reduce U.S. federal deficits by as much as $4 trillion if maintained for a decade. The Budget Lab, cited in Gulf Today, estimates 2025’s tariffs will yield $2.2 to $2.7 trillion in revenue over ten years, but at the cost of a 0.4% reduction in long-term U.S. GDP, mainly via lost investment and productivity.
The focus in July and August has centered on Trump’s new tariffs targeting imported Chinese goods, most recently the furniture industry. As reported by aInvest, Trump has ordered a 50-day probe that could lead to tariffs of 20–30% on Chinese and Vietnamese furniture. Domestic manufacturers, like La-Z-Boy, already making over 70% of their products in the U.S., are optimistic, with shares rising 8% post-announcement. Import-reliant companies such as Wayfair have seen a 12% drop in shares, reflecting investor anxiety over shrinking margins as Chinese-made furniture faces harsh new penalties.
Meanwhile, Fortune reports that the Trump administration has closed the so-called “de minimis” duty exemption, previously allowing U.S. consumers to order Chinese goods valued under $800 tariff-free. Since May, all Chinese low-value imports are now subject to duties, prompting international postal services across Europe to halt shipments to the U.S. until new compliance rules are clarified. For context, over 1.3 billion such packages worth $64.6 billion entered the U.S. in 2024, so the new tariffs could significantly restrict both consumer choices and cross-border e-commerce.
South China Morning Post highlights ongoing trade disruptions, with U.S. soybean farmers urging a new deal as China increasingly sources from Brazil instead. At the same time, some U.S. firms, such as Excel Dryer, managed to avoid tariffs by fully localizing their supply chains—a tough challenge, as many analysts doubt other manufacturers can easily replicate the feat.
InsideTrade.com notes that Trump’s rationale for the tariffs is “reciprocal trade,” penalizing countries seen as unfair. With the removal of tariff exemptions and more categories of goods—furniture, steel, aluminum, and more—coming under import duties, trade tensions and market uncertainty are likely to persist deep into the 2025 presidential race.
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