A sweeping Russia sanctions law signed just last month (The Graham Act) is now largely on hold, and the details matter for furniture retail supply chains. Here’s a quick rundown of where things stand as of late October 2026.
Here’s what happened:
- Sept. 16–18, 2026: Congress passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 with strong bipartisan majorities (the Senate voted 86–11), and President Trump signed it into law on Sept. 18.
- What the law required: Up to 500% tariffs on Russian goods and tariffs of up to 100% on goods from the five largest buyers of Russian oil and gas (a group that includes China and India), with key provisions scheduled to take effect Oct. 18.
- Oct. 16: Two days before that deadline, the President signed an executive order waiving those tariff and sanction provisions, certifying to Congress that the waiver is in the national interest. Existing Russia sanctions under earlier executive orders remain in place.
- What’s next: Secretary of State Marco Rubio described the move as a 60-day pause to assess the impact on the U.S. and global economies amid tight global energy supplies. Under the order, the waivers remain in effect until the President or Secretary of State determines further action is warranted.
The waiver follows a separate agreement to bring Russian diesel to global markets as fuel prices remain elevated. Diesel is up roughly 70% since February, per press reports, and it drew criticism from lawmakers in both parties. Congress is in recess until after the Nov. 3 midterms, limiting any near-term legislative response.
Why it matters for furniture retailers
- Import costs: China and India are significant sourcing markets for home furnishings. Had the 100% tariffs taken effect, they would have stacked on top of existing duties — raising landed costs on furniture, components, and materials. That risk is paused, not eliminated: the waiver can be lifted with little notice.
- Freight and fuel: Fuel costs flow straight into inbound freight and last-mile delivery. Watch whether the diesel agreement and waiver actually move prices at the pump and on freight rates.
- Planning: With reversibility built in, stress-test your landed-cost scenarios for both outcomes — tariffs in place and tariffs waived.
We’re watching for you
HFA is monitoring this closely, including the 60-day review window, any congressional response once members return in November, and further changes to Russia-related energy sanctions. We’ll keep the industry informed as developments unfold. Questions or input? Reach out to our advocacy team at www.myhfa.org .
