Trump says furniture tariffs next as ‘major’ investigation launched into imports

He added that the move would help “bring the Furniture Business back to North Carolina, South Carolina, Michigan, and States all across the Union.”

Trump’s announcement immediately rattled the furniture and home goods sector. According to CNBC, shares of major players including Wayfair, RH (formerly Restoration Hardware) and Williams-Sonoma fell in after-hours trading.

Wayfair, which imports much of its inventory, was among the hardest hit. RH and Williams-Sonoma have been working to diversify their supply chains, but new tariffs could still raise costs for them, CNBC reported. In contrast, La-Z-Boy, which manufactures most of its products domestically, saw its shares rise on the news.

Trump has already imposed steep tariffs on cars, steel and aluminum, and has floated similar duties for imports of copper, pharmaceuticals and semiconductors. CNBC noted it was unclear whether potential furniture tariffs would be layered on top of existing country-specific duties.

The move comes as Washington continues trade talks with partners like the European Union and China. While recent framework agreements have calmed markets, many longer-term issues remain unresolved.

(With inputs from CNBC)

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