Summary
President Trump has delayed higher tariffs on some furniture and cabinets for a year. The current 25% tariff will stay, but certain items won't see further increases right away.
Key Facts
- President Trump signed a proclamation on New Year's Eve.
- The proclamation delays increased tariffs on specific goods.
- The goods affected include upholstered furniture, kitchen cabinets, and vanities.
- Currently, there is a 25% tariff on these goods, imposed since September.
- The delayed tariffs would have increased to 30% for furniture and 50% for cabinets and vanities.
- The delay is due to ongoing trade discussions.
