Home goods retailers slide as Trump rolls out new furniture tariffs

Furniture retailers were under pressure in early trading Friday after President Trump announced 50% tariffs on kitchen cabinets and bathroom vanities, and 30% tariffs on upholstered goods. The new import duties are set to go into effect on October 1.

RH shares slipped nearly 4%, while Wayfair and Williams-Sonoma dropped about 3%.

The move follows warnings last month, when the White House told Reuters it was investigating furniture imports on national security grounds. The US imported $25.5 billion worth of furniture in 2024, up 7% from the prior year, with Vietnam and China accounting for about 60% of those imports, per Furniture Today.

For RH, the tariff hit comes at a difficult time. Earlier this month, the retailer trimmed its full-year revenue outlook to 9% to 11% growth, down from prior guidance of 10% to 13%, citing margin pressure from tariffs and housing market weakness. Wall Street had been looking for ~10% growth.