Trump: Major Tariff Investigation

　　On August 22 local time, Trump stated that the United States is conducting a "major tariff investigation" on "furniture entering the U.S.," laying the groundwork for industry-specific tariffs.

　　Trump posted on social media: "The investigation will be completed within the next 50 days, and tariffs will be imposed on furniture entering the U.S. from other countries and regions, with the rate yet to be determined." He claimed this move would revitalize the domestic U.S. furniture manufacturing industry.

　　As a result, several furniture retail stocks plummeted in after-hours trading. Among them, Wayfair's stock plunged by 10%, RH's stock fell nearly 10%, Arhaus's stock dropped over 7%, and Williams-Sonoma's stock declined more than 6%. In contrast, La-Z-Boy, which primarily produces furniture in North America, saw its stock rise by 3.7% after the close.

　　This expands the list of industries targeted by tariffs. The current Section 232 investigations cover 11 categories, including steel and aluminum及其衍生品, automobiles, copper, semiconductors, pharmaceutical products, critical minerals and derivatives, trucks, lumber, commercial aircraft and engines及其零部件, drone systems及其零部件, and polysilicon及其衍生品.

　　Announcing the decision, Trump said: "This will bring the furniture business back to North Carolina, South Carolina, Michigan, and all states across the U.S."

　　Over the past few months, domestic U.S. furniture prices have continued to rise due to Trump's tariff increases on major furniture import sources, including Vietnam.

　　Meanwhile, furniture and bedding are a significant category tracked by the U.S. Consumer Price Index (CPI). After a period of substantial deflation over the past two and a half years, prices in this category rose by 0.4% and 0.9% in June and July, respectively, according to U.S. data.

　　Other furniture, including office furniture, leisure furniture, and patio furniture, also saw the largest increases since May, with prices rising by 1.5% in May, and by 1.6% and 1.5% in June and July, respectively.