President Trump delays some tariff hikes as U.S. slashes pasta tariffs

Summary

CNBC's Eamon Javers reported that President Trump delayed planned tariff increases on upholstered furniture, kitchen cabinets, and vanities by one year, keeping the existing 25% tariff in place. The U.S. also slashed planned tariffs on Italian pasta makers. Furniture retailer shares including RH, Williams-Sonoma, and Wayfair rose on the tariff-delay news. The report also noted prior tariff rollbacks on beef, coffee, and bananas and an upcoming Supreme Court decision on presidential tariff authority.

• Trump delayed 30% upholstered furniture and 50% cabinet/vanity tariffs by one year.
• The existing 25% tariff on those goods remains in place.
• RH, Williams-Sonoma and Wayfair rose after the tariff-delay news.
• U.S. planned Italian pasta tariffs were cut from 92% to roughly 2.25% and under 14%.
• Prior rollbacks covered beef, coffee and bananas to blunt consumer price increases.
• Affordability and pricing are expected to be key 2026 midterm issues.
• Supreme Court review of presidential tariff authority remains pending.