Trump's Tariff Investigation Shakes Furniture Industry

President Donald Trump declared on Friday that his administration will initiate a significant tariff investigation on furniture imports to the United States, signaling possible increased duties. Trump's announcement on Truth Social emphasized that furniture from abroad would be subject to an as-yet-undetermined tariff rate.

In reaction to Trump's announcement, shares of furniture retailer RH, formerly known as Restoration Hardware, dropped by 7.5% in after-hours trading. The investigation is expected to conclude within 50 days, although previous national security probes have taken substantially longer.

The Section 232 probe could form the legal foundation for imposing tariffs if a federal court negates reciprocal tariffs previously implemented by Trump against several trading partners. Trump believes this move will rejuvenate the U.S. furniture industry, boosting employment in states like North Carolina and Michigan.

(With inputs from agencies.)