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"Everyone's hoping [tariffs] will go away. The only certainty is there's a 25 percent tariff, and you have to run your business looking at that being in place for the foreseeable future. Both sides have to be willing to compromise, and we don't see that happening right now," Wanek told Furniture Today, an industry trade publication.

"Economic factors, including a stronger US dollar, slowing economic growth in China and capital control, no doubt held back some Chinese buyers," said Lawrence Yun, NAR's chief economist.

"Even in the best-case scenario of limited outbreaks in countries outside China, a sharp slowdown in world growth is expected in the first half of 2020 as supply chains and commodities are hit, tourism drops and confidence falters," the Paris-based group said in a report.

"Economic prospects are now weaker in nearly all G20 countries than previously anticipated," said the Organization for Economic Cooperation and Development, or OECD, in its recent interim economic outlook.

"Digitalization will play a direct and great role in promoting the 'dual circulation' development pattern to take the domestic market as the mainstay while letting internal and external markets boost each other," said Yu Weiguo, Party secretary of Fujian.