Trump says the furniture tariffs come later this year later

The Trump Administration started an investigation into imported furniture, president Donald Trump said Friday, setting the stage for the new tariffs in a wide range of products.

“In the next 50 days, the investigation will be completed, and the furniture coming from other countries in the United States will be charged at the rate that is yet to be determined” Trump wrote on his toasty social platform. “This will bring the job of furniture back to North Caroline, South Caroline, Michi, and countries around the world.”

Following Trump Post, Stocks of Superior Furniture and Company Home Royalty, including Vaifair, Rh and Williams-Sonomacrashed into trade after working hours.

Vaifair imports a lot of its furniture. The Republic of Croatia, former restored hardware and williams-sonoma work on diversifying its supply chains.

The new tariffs could start costs for many of these large furniture brands. But not for all of them.

Actions La-Z-Boywhich has most of its production in the US, has increased to news about Trump tariff plans.

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

It was unclear on Friday whether new, sectoral tariffs on furniture will be applied at the top of the tariff tariff rates.

Trump administration conducted months by holding bilateral negotiations with American trading partners in an effort to reset the balance of global trade. Recent framework agreements with the European Union and China helped a peaceful market, but leave many long-term issues of unresolved.

All new tariffs would come to a difficult time for the American furniture industry, which faces a series of challenges.

The companies love Vaifair They saw the demand for more than a year on objects like new couches and dining rooms, the decline caused by the sloring total residential market as customers waiting for interest to reach the fall.

With diseased new homes, consumers have fewer reasons for purchasing a new furniture.

Plus, with stubborn inflation, they were picky where they spend their discretional income. Restaurants, new clothes, excursions and decor for home guests.

– CNBCs Gabrielle Fonrouge Contributes to this report.