"Cabinet dealers, interior designers and remodeling contractors in the U.S. hope new tariffs on imported kitchen cabinets, bathroom vanities and upholstered wooden furniture that kicked in Tuesday will create more business for them and eventually boost domestic production of those products.But several small business owners in the home improvement industry say they expect some short-term pains from the import taxes: Clients with projects already on the books might balk at having to pay more for the budget-priced cabinets they selected."
"Potential customers may postpone kitchen and bathroom renovations until costs - and the economy - seem more stable."I think the volatility around pricing is damaging to the remodeling industry," said Allison Harlow, an interior designer in Michigan whose company, Curio Design Studio, creates and builds custom bathrooms and kitchens. "Most people will hear the headline of 'Kitchen cabinets will go up 50%' and might just opt out of even reaching out to our company.""
New U.S. tariffs target imported kitchen cabinets, bathroom vanities and upholstered wooden furniture, with higher rates taking effect through the end of the year and rising on Jan. 1. The steepest levies apply to vanities and kitchen cabinets — 25% until year-end and 50% starting New Year's Day — while upholstered seating faces a 25% tariff rising to 30%. A 10% import tax was placed on softwood timber and lumber. Some cabinet dealers, interior designers and remodelers expect the tariffs to spur long-term domestic production. Several small businesses warn of near-term price volatility, client cancellations and postponed renovation projects.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]