High Point furniture market head: industry hit by tariffs
HIGH POINT, N.C. (AP) — The international furniture expo wrapping up in North Carolina is showing that tariffs in the trade war between the United States and China can cost consumers.
WFDD-FM reports organizers behind the High Point Furniture Market ending Wednesday say the extra costs slapped on imports are disrupting buyers in both countries.
High Point Market Authority CEO Tom Conley says the trade war has virtually dried up sales for U.S. furniture manufacturers into their second-largest market. Conley says furniture made in China and sold in the U.S. is now an extra 10% costlier from tariffs tacked on by the Trump administration.
Conley says the trade war also is crimping foreign business people traveling to the twice-a-year High Point market. He predicts international visitors will be down 15 to 20 percent this spring.
Information from: WFDD-FM.