Trump Declares Imminent Furniture Tariffs, Sending Retail Stocks Tumbling

President Donald Trump announced Friday that a new investigation into imported furniture is nearing completion, setting the stage for significant tariffs on a broad array of products within the next 50 days. The declaration, made on Trump’s Truth Social platform, stated that the move is intended to “bring the Furniture Business back to North Carolina, South Carolina, Michigan, and States all across the Union.”

The news immediately impacted the stock market, with shares of leading furniture and home goods companies, including Wayfair, RH, and Williams-Sonoma, plummeting in after-hours trading. These companies largely rely on imported goods and have been actively working to diversify their supply chains in anticipation of such policy shifts. Conversely, La-Z-Boy, which primarily manufactures its products within the U.S., saw its shares rise following Trump’s announcement.

This latest tariff threat follows previous duties imposed by Trump on sectors like cars, steel, and aluminum. The exact rates and scope of the proposed furniture tariffs remain undetermined, and it is unclear if they would be layered on top of existing country-specific rates. The potential tariffs arrive at a challenging time for the U.S. furniture industry, which has faced over a year of declining demand due to a slower housing market and persistent inflation, compelling consumers to be more cautious with discretionary spending.

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