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Stock impact report

White House delays furniture tariff increases for a year [Yahoo! Finance]

The Lovesac Company (LOVE) 
Last the lovesac company earnings: 4/16 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
The U.S. has delayed tariff increases for upholstered furniture, kitchen cabinets and vanities for an additional year, the White House announced in a fact sheet Wednesday. Since Oct. 14, kitchen cabinets, vanities and upholstered wooden products like couches, sofas and chairs have incurred a 25% tariff . On Wednesday, the rate for cabinets, vanities and associated parts was slated to jump to 50%, while the tariff for upholstered furniture would have increased to 30% prior to the delay. The current 25% tariff will remain in effect for another year as a result, per the fact sheet. Some exceptions are in place based on agreements the U.S. has reached with trading partners such as the United Kingdom, Japan and the European Union. The Trump administration imposed the tariffs following a Section 232 investigation that found current wood import quantities and trade practices threatened U.S. security. An overreliance on foreign timber, lumber and derivative products could harm the coun Show less Read more
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