The article discusses the impact of recent tariff changes on the price of furniture and home decor. According to economists, tariffs typically lead to increased consumer prices. The U.S. imports around $70 billion worth of furniture annually, and recent tax policies could raise prices by 10-20% for items reliant on imported materials. As domestic production also becomes costlier, consumers may see price hikes across the board. Experts provide insights on preparing for these expected changes in the market.
"Typically, the vast majority of tariffs are passed along to consumers in terms of higher prices for imported goods," says economic expert Jonathan Ernest.
"Due to the widespread nature of the tariffs, the price of furniture and decor is likely to rise, and any imports will include the tariff associated with their respective nations," Ernest explains.
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