Shares of furniture retailers tumbled after President Donald Trump announced that the US will enact new tariffs on imported kitchen cabinets, bathroom vanities and other home products next week.
RH, whose chief executive officer has been a critic of Trump’s trade policy, saw its stock fall about 4% on Friday. The shares of the company, which operates the Restoration Hardware chain, had already declined 46% this year through Thursday.
Wayfair Inc., another furniture retailer, dropped as much as 1.9%.
In a social media post on Thursday night, Trump said these kinds of imported products have been flooding into ...
