Furniture industry ‘PANICKING' over Trump's tariffs

Industry Overview - The furniture industry is experiencing panic due to tariffs on imported lumber, with 90% of wood furniture sold in the U.S. being made overseas [1] - A 10% tariff on imported lumber and a 25% tariff on kitchen cabinets and vanities will take effect in two weeks, which may benefit domestic manufacturers [2] Company Insights - Gat Creek, a furniture manufacturer sourcing materials locally from the Appalachian Forest, is positioned favorably as it will not be significantly affected by the tariffs [2] - The company has invested in U.S. manufacturing, contrasting with the trend of sending American trees to Asia for furniture production [2][3] Manufacturing Challenges - The U.S. furniture manufacturing sector faces challenges such as the need for land, labor, expensive equipment, and environmental permits, which complicate the establishment of factories [4] - The hope is that the new tariffs will encourage manufacturers to invest more in U.S. production facilities [4]