SAN DIEGO (KGTV) — 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.
President Trump announced tariffs that took effect October 14, including a 10% tariff on lumber and a 25% tariff on furniture and cabinets. These measures are already prompting concerns about increased costs for consumers and potential job impacts across multiple industries.
For San Diego mom Madeline Franklin, every day involves careful budgeting decisions. Whether it's stretching grocery money or finding affordable furniture, she represents many families navigating rising costs.
"You just really have to budget on everything from going to scratch and dent stores to figuring out how you're going to stretch your milk, how you're going to stretch your eggs," Franklin said.
When furniture shopping, Franklin carefully evaluates each purchase beyond just price.
"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 to clean? If I clean it will it wear," Franklin said.
University of San Diego economics professor Alan Gin warns the tariffs will likely create a ripple effect throughout the economy.
"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," Gin said.
The economic impact extends beyond furniture retailers, according to Gin.
"So, if people have to pay more for the furniture, they have less money than to spend elsewhere. And then those industries then will be impacted," Gin said.
The furniture market represents significant economic activity. 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.
Price increases are already evident in furniture costs. The U.S. Bureau of Labor and Statistics reports seeing an almost 16% increase in price for furniture and bedding from 2020 to 2025.
Major retailers are feeling the pressure. IKEA recently announced its retail sales fell for the second year in a row as the company looks for ways to stay profitable.
Franklin believes the situation will likely worsen as costs increase and families must become more selective about spending.
"They are a business. They have to make money. We are unfortunately in a capitalist society," Franklin said. "Most of the time the average person cannot afford them and they have to wait to get them."
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