Trump says furniture tariffs are coming later this year

The Trump administration has launched an probe into imported furniture, President Donald Trump said Friday, mounting the signifier for caller tariffs connected a wide scope of products.

"Within the adjacent 50 days, that Investigation volition beryllium completed, and Furniture coming from different Countries into the United States volition beryllium Tariffed astatine a Rate yet to beryllium determined," Trump wrote connected his Truth Social platform. "This volition bring the Furniture Business backmost to North Carolina, South Carolina, Michigan, and States each crossed the Union."

Following Trump's post, shares of apical furnishings and location goods companies, including Wayfair, RH and Williams-Sonoma, tumbled successful after-hours trading.

Wayfair imports overmuch of its furniture. RH, formerly Restoration Hardware and Williams-Sonoma person been moving to diversify their proviso chains.

New tariffs could thrust up costs for galore of these large furnishings brands. But not for each of them.

Shares of La-Z-Boy, which has astir of its manufacturing successful the U.S., roseate connected the quality of Trump's tariff plans.

Trump has already enactment steep tariffs connected cars, alloy and aluminum and helium has floated akin customs duties for imported copper, pharmaceuticals and semiconductors.

It was unclear Friday whether new, sectoral tariffs connected furnishings would beryllium applied connected apical of state circumstantial tariff rates.

The Trump medication has spent months holding bilateral negotiations with U.S. commercialized partners successful an effort to reset the equilibrium of planetary trade. Recent model agreements with the European Union and China person helped to calm markets, but permission galore longer-term issues unresolved.

Any caller tariffs would travel astatine a hard infinitesimal for the U.S. furnishings industry, which faces a scope of challenges.

Companies similar Wayfair person seen request autumn for much than a twelvemonth connected items similar caller couches and eating sets, a driblet caused successful portion by a slower wide lodging marketplace arsenic buyers hold for involvement rates to travel down.

With less caller homes being bought, consumers person less reasons to bargain caller furniture.

Plus, with stubborn inflation, they person been much choosy connected wherever they are spending their discretionary income. Restaurants, caller clothes, trips and location decor person each taken a hit.

— CNBC's Gabrielle Fonrouge contributed to this report.