Trump announced high tariffs on imported furniture, causing stocks like Wayfair (W.US) to drop.

According to Zhitong Financial APP, President Trump announced that he will impose tariffs of 30% to 50% on all imported cabinets, bathroom cabinets, and upholstered furniture. This news has had a significant impact on Wayfair (W.US), RH (RH.US), and Williams Sonoma (WSM.US), with the stock prices of the three furniture companies all dropping by 5% before the market opened on Friday.