Buckle Up. Tariffs, Trends & Tactical Moves in the Furniture Industry

Originally published April 4, 2025. This version was rebuilt from Executive Orders 14257 and 14256 and Bassett's first quarter results for the FIN archive, and the facts are as of that date.

The first days of April 2025 rewrote the cost of imported furniture. Within two days importers had a new baseline tariff, a schedule of higher country rates and an end date for duty-free small parcels from China.

The short version

• Executive Order 14257 set a 10% additional duty on imports from nearly all countries and higher rates for countries in its annex.
• Executive Order 14256 ended de minimis treatment for China from May 2.
• Bassett reported operating income of $2.5 million in its first quarter.

A new baseline

The April 2 order imposed a 10% additional duty starting April 5 and, from April 9, higher country-specific rates for trading partners listed in Annex I. For furniture, the key annex countries were the big Asian suppliers.

Update. On April 9 the higher country rates were paused for 90 days except for China, and the Supreme Court later ruled that IEEPA does not authorize these tariffs.

De minimis ends for China

A second order ended duty-free de minimis treatment for goods from China and Hong Kong valued at $800 or less, effective May 2. Low-priced furniture and decor shipped directly to consumers from China would now pay duties.

Bassett holds up

Bassett Furniture reported first-quarter operating income of $2.5 million, compared with a loss of $2.4 million a year earlier. Revenue fell 5.1% against a quarter with an extra week, and rose 2.2% on a like-for-like basis, helped by better wholesale margins.

Buckle up

Importers had a few days to price new rates and a month to adjust to the end of de minimis for China. Companies with domestic production and tight costs had more room.

Related on FIN

• Follow the Tariff Dollars
• Furniture Showrooms Run on Morale

Sources

• The White House, Executive Order 14257 (Apr. 2, 2025)
• The White House, Executive Order 14256 on low-value imports (Apr. 2, 2025)
• The White House, Executive Order 14266 (Apr. 9, 2025)
• Supreme Court of the United States, Learning Resources, Inc. v. Trump, opinion (Feb. 20, 2026)
• Bassett Furniture Industries, Fiscal first quarter 2025 results