Skip to content

Trump: Furniture Tariffs Will Rebuild U.S. Manufacturing Base

Photo by Bruno Guerrero / Unsplash

President Donald Trump announced Friday that his administration will move to impose higher tariffs on imported furniture within 50 days, CNN reported.

The move follows an investigation he directed into foreign furniture imports, particularly from China and Vietnam, the top two exporters to the United States. CNN reported that both nations shipped a combined $12 billion in furniture last year, according to Commerce Department data.

Trump said the policy will “bring the furniture business back” to states such as North Carolina, South Carolina, and Michigan, which once had thriving manufacturing bases. The administration is also considering tariffs on imports of copper, semiconductors, and pharmaceuticals.

Furniture prices have already been rising as tariffs increased in recent months. The Consumer Price Index showed furniture and bedding costs climbed steadily this summer after years of decline.

Shares of companies like Wayfair, Williams-Sonoma, and Restoration Hardware fell after Trump’s announcement, erasing earlier gains tied to optimism over potential Fed rate cuts.

Comments

Latest