President Donald Trump surprised many on Friday with a big announcement: he’s launching a “major” Section 232 tariff investigation into furniture coming to the United States. 📦💼
The news broke on his social platform, where he posted “Furniture coming from other Countries into the United States will be Tariffed at a Rate yet to be determined.” The probe is set to wrap up in 50 days, though previous investigations have taken much longer.
Why now? Trump argues this step will bring furniture production back to states like North Carolina, South Carolina, Michigan and beyond, potentially reviving jobs in a sector that’s seen employment cut by more than half since 1979 – from 1.2 million to just 340,000 today.
It could also serve as a legal safety net if a federal court strikes down the reciprocal duties he introduced in April, or the import taxes slapped on the Chinese mainland, Canada and Mexico back in February.
The U.S. imported about $25.5 billion in furniture in 2024 – up 7 percent over last year – and new tariffs already nudged home furnishing prices up by 0.7 percent in July. Consumers are feeling the pinch, even as overall inflation cools thanks to cheaper gas.
For young entrepreneurs, investors and style-savvy shoppers, these moves could reshape supply chains, spark new business opportunities, and change the price tags on your next couch hunt. Stay tuned for more updates as this investigation unfolds! 🔍💸
Reference(s):
Trump says U.S. taking steps towards tariffs on furniture imports
cgtn.com
