San Diego families shopping for furniture may soon face higher prices as new tariffs on imported goods take effect, forcing consumers to budget more carefully and shop around for deals.

San Diego

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

New tariffs on imported furniture and lumber have been implemented, with a 10 percent tariff on lumber and a 25 percent tariff on furniture and cabinets. Experts say these tariffs are likely to increase costs for consumers, as businesses may pass on the higher import prices. This could lead to reduced consumer spending on furniture, potentially affecting jobs and sales in the industry.

The U.S. furniture market is projected to generate over $253 billion in revenue in 2025, but prices for furniture and bedding have already risen by nearly 16 percent since 2020. Companies like IKEA have reported declining sales, and families are expected to be more selective with their purchases due to rising costs.

New tariffs on furniture, lumber may drive up costs for families

If you're in the market to buy new furniture such as a table or a desk, experts say you'll have to do some extra homework to find the best price as businesses deal with the tariff impact that took effect on October 14th. You just really have to budget on everything from going to like scratch and dent stores to figuring out how you're going to stretch your milk, how you're going to stretch your eggs. For mom Madeline Franklin, every day is a balancing act. Certain days it's about budgeting for food and today it's about finding new furniture. I think that would be really nice and then I think let me look at the tag. What is this made of? What do I know about the material that this is made of? How easy is this going to be clean? If I clean it, will it wear? Like many consumers, she shops around for the lowest price. But experts say finding the best deal may soon become difficult as businesses deal with the tariffs President Trump announced on furniture. He has placed a 10 percent tariff on lumber and a 25 percent tariff on furniture and cabinets. University of San Diego economics professor Alan Jin says this announcement will likely mean added costs for consumers and could affect jobs. If businesses then have to pay higher prices for imported furniture, they're going to try to pass some of that on to consumers and consumers then could react by reducing their purchases. So this could have a negative impact on companies and if their sales drop, they may have to lay off some people. And he believes this will trickle down to other businesses due to a drop in spending. So if people have to pay more for the furniture, they have less money than to spend elsewhere. And those industries then will be impacted. According to Statista, a global data and business intelligence platform, the furniture market is expected to bring in just over $253 billion in revenue in the U.S. in 2025. In terms of specific items, the U.S. Bureau of Labor and Statistics reports seeing an almost 16 percent increase in price for furniture and bedding from 2020 to 2025. This comes as businesses like IKEA are looking for ways to stay out of the red. IKEA recently announced its retail sales fell for the second year in a row. And Madeline believes things will likely only get worse as the costs increase and families like hers have to be more selective in what they spend their money on. They are a business. They have to make money. We're unfortunately in a capitalist society. Most of the time, the average person cannot afford them and they have to wait to get them. Marie Cornell, ABC 10 News.

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New tariffs on furniture, lumber may drive up costs for families

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