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How Will Trump Tariffs And Trade War Affect Mattress Buyers?,
Let’s be straightforward. The future is very clear: all prices will go up. That means we will have to pay more for mattresses, bed frames and other products.
President Donald Trump imposed 10%-25% tariffs on Chinese goods and sparked a trade war with China this year. We know he wants to protect US economy and creates more jobs. I’m not an economist but I think it’s too radical. The tariffs increase the cost of import and reduce the domestic competitiveness pressure. They also push up prices of products in the tariff list. It will impose a direct pressure on consumers and manufacturers depending on import. We consumers have to pay more for the rising costs.
In the bed market, the tariffs affect lots of brands and companies because their some or all products are made in China. As I know, Sealy and Serta have some models manufactured in China. Most economical or inexpensive mattress brands will suffer a lot from this trade war. All their mattresses and products are imported from China. Some involved brands are LUCID, Linenspa, Zinus, Signature Sleep, Best Price, Olee Sleep and Dynasty Mattress. These brands primary target is cheap mattresses and bed frames online.
Actually, the price of mattress and frame has risen in recent two years but it’s just a little bit. The reason is the price of raw materials like foam and steel increased about 50%. You know they are primary materials of foam mattress, spring mattress and frames. As there is still some margin, manufacturers don’t pass on rising cost to consumers. Now, they need to afford another up to 25% cost. Brands that make their products in the United States don’t need to pay the tariff but they will follow the peers to raise their prices. The price of mattresses and frames are expected to increase much this year.
If you’re going to buy new mattresses, I recommend you buy one before September. After the tariff takes effect, you will pay higher for the same item. Now the ratio is uncertain until mid-September. The whole industry is waiting for final definite answer from Trump and US government. Many brands are considering moving their factories to South Asian countries like Thailand, Vietnam, Indonesia, etc. These countries aren’t involved in the trade war and the labor cost is very low. But it’s not easy to move factories to a new country. Some manufacturers are rushing to stock up products in their US warehouses before the tariff takes effect.
Source: http://www.furnituretoday.com/article/555615-furniture-and-related-items-subject-proposed-tariffs/