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<\/p>\n Email Link<\/p>\n \n President Donald Trump on Friday announced he\u2019s directing his administration to investigate imports of furniture into the United States that will lead to higher tariffs by October.\n <\/p>\n \n \u201cWithin the next 50 days, that Investigation will be completed, and Furniture coming from other Countries into the United States will be Tariffed at a Rate yet to be determined,\u201d Trump wrote in a Truth Social post.\n <\/p>\n \n \u201cThis will bring the Furniture Business back to North Carolina, South Carolina, Michigan, and States all across the Union,\u201d Trump said.\n <\/p>\n \n The investigation comes as the Trump administration is mulling higher tariff levels on imported goods such as copper, semiconductors and pharmaceuticals.\n <\/p>\n \n Already, furniture prices have been increasing over the past few months as Trump hiked tariffs on countries including China and Vietnam, the top two sources of imported furniture. Both countries imported $12 billion worth of furniture and fixtures last year, according to US Commerce Department data.\n <\/p>\n \n Furniture and bedding prices, an overarching category the Consumer Price Index tracks, rose 0.4% in June and 0.9% in July after prices had been largely deflationary for the past two and a half years.\n <\/p>\n \n Other furniture, including office, recreation and patio, saw the biggest spikes since May. Prices were up 1.5% in May, 1.6% in June and 1.5% in July. Like most goods, these categories were seeing prices fall by that much on a monthly basis, if not more, following the unraveling of pandemic nesting trends.\n <\/p>\n \n Furniture stocks, such as Wayfair, William-Sonoma and Restoration Hardware, all tanked in after-hours trading Friday evening following a big day of gains across the stock market after Federal Reserve Chair Jerome Powell opened up the door to an interest rate cut.<\/a>\n <\/p>\n \n This is a developing story and will be updated.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Facebook Tweet Email Link President Donald Trump on Friday announced he\u2019s directing his administration to investigate imports of…\n","protected":false},"author":2,"featured_media":123521,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1700,16,15],"class_list":{"0":"post-367177","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115078009066189159","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/367177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=367177"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/367177\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/123521"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=367177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=367177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=367177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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