Danish furniture manufacturer Core One faces a 45% total U.S. tariff on its Vietnamese-made furniture exports, following a 25% increase on top of existing levies. The tariffs cover upholstered furniture such as sofas and dining chairs, key products for Core One, and are expected to increase prices for U.S. consumers or compress margins for importers.
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While U.S. tariffs aim to protect domestic furniture jobs, EU-based manufacturers benefit from a trade agreement limiting tariffs to 15%, shielding them from the full impact. Nevertheless, Danish exporters express concern over market uncertainty and potential long-term effects on U.S. sales, which currently represent ~12% of Core One's revenue.
Source: www.wood-supply.dk
