Trump says tariffs on furniture go later this year

A Trump administration launched an investigation into imported furniture, president Donald Trump said on Friday by setting the scene for a new tariffs on a wide range of products.

‘In the next 50 days, this investigation will be completed and furniture coming from other countries to the US wrote In its truth, the social platform. “This will return the furniture business to North Carolina, South Carolina, Michigan and the state throughout the union.”

Upon Trump’s notice, Top Mible and Home Doces stocks, including Wayfair. Ren and Williams Sonoma.

Wayfair imports most of its furniture. Rh, previously restoration equipment and Williams-Sonoma are working on diversification of their supply networks.

New tariffs can increase costs for many of these major furniture brands. But not for all of them.

Shares La-Z-BoyWhich has most of its production in the US has risen to Trump’s news plans.

Trump has already set steep tariffs on cars, steel and aluminum, and he sailed similar customs duties for imported copper, pharmaceuticals and semiconductors.

On Friday, it was unclear whether new industry tariffs would be applied to furniture at the top of the tariffs for specific countries.

The Trump administration held months, holding bilateral talks with US trading partners, trying to lose the balance of global trade. The latest scope of agreements with the European Union and China helped to reassure markets, but leave many long -term problems unresolved.

Any new tariffs will come at a difficult moment for the American furniture industry that faces many problems.

Companies like Wayfair They looked that demand was falling for more than a year on items such as new sofas and dining sets, a fall that was partially caused by a slow overall housing market, as buyers are waiting for the interest rates to leave.

With fewer new houses, consumers have less reasons to buy new furniture.

Plus, they were more outstanding when stubborn inflation, where they spend their discrete profits. The restaurants, new clothes, trips and decor of the house were hit.

. Cnbc Gabriel Fonruzh He contributed to this report.