The latest round of U.S. tariffs is set to further strain the furniture industry, according to Gabriele Natale, president of Manwah. He warned that the impact would be significant, stating: 'The furniture industry didn't need this at this time.'
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Natale described the current business climate as already difficult, adding that the tariffs would worsen conditions. 'This will put consumers in a different mindset,' he said, quoting Warren Buffett's view that 'the tooth fairy doesn't pay the tariffs, consumers do.'
Manwah's operations in Vietnam currently offer some relief from U.S. tariffs. However, Natale expressed concern that Vietnam could soon be targeted, saying: 'If the plan of the U.S. president is to hit the economy of everyone with a surplus, then Vietnam is next.'
To navigate these challenges, Natale emphasised the importance of strong industry partnerships. 'The best way to deal with this is to work with solid, strong, well-financed companies,' he said, adding that Manwah remains a reliable partner.
Source: www.furnituretoday.com