Furniture industry: output size may drop by 15%
Manufacturing of furniture, electronics, textiles and garments, leather goods and electrical equipment, the gross profit margin of these industries is almost all less than 45%.
Therefore, if the United States imposes a 45% tariff, exports to the United States may or may not stop. Among them, the furniture industry is the most affected, the output scale is down 15%, and the output decline of the other three industries will exceed 5%.
To increase the added value of products, core technologies should be developed to redefine the market. In this way, it is possible to go upstream in the struggle of the capitalists and get rid of the danger of the enterprise.