The new tariffs will be implemented by October.
Transcript:
CAROLINE WOODS: Tariffs could soon hit your living room.
In a Truth Social post Friday, President Trump said he’s launching a “major tariff investigation” on imported furniture – promising results in less than 50 days. The tariff rate still hasn’t been set..
Trump argues the move would bring furniture manufacturing back to states like North Carolina, South Carolina, and Michigan.
Furniture prices are already climbing. The U.S. imported about $12 billion in furniture from China and Vietnam last year. They’re the two biggest suppliers and both are already facing higher tariffs. And government inflation reports show furniture and bedding prices have risen every month since May, reversing a two-year stretch of steady declines.
The biggest jumps? Office, recreation, and patio furniture – up more than one and a half percent for three months in a row.
More tariffs could mean higher prices and that’s hitting Wall Street — shares of Wayfair, RH, Williams-Sonoma, and Arhaus were sharply lower in Monday morning action.
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