CEO Recover hardware Warning that high-quality wood and metal furniture manufacturing “does not exist on a large scale in the United States” trump card Use tariff investigations to stimulate production in the United States
CEO of the company Gary Friedmanin the latest quarterly earnings letter, warned shareholders in a few weeks later. trump card Announced whether it is necessary to investigate tariffs on imported furniture to protect domestic industries.
“When you may think the tariff dialogue has been completed, a new furniture investigation has been announced and the possibility of other furniture tariffs may be imposed in the case of existing furniture tariffs and additional steel and aluminum tariffs, with the aim of returning furniture manufacturing to the United States,” he said. Friedman Write.
“We think most people want this survey to show the difficulty of the task, as the current manufacturing industry does not exist in the United States for high-quality wood or metal furniture,” he added.
RH is a luxury home furniture retailer with stores in multiple countries.
It cuts its revenue outlook for a year after a lack of expectations in its second quarter report. The company predicts that existing global tariffs will receive $30 million in losses.
gentlemen. trump card In August, a 50-day investigation into furniture imports was announced under Article 232 National Security Regulations.
The move paves the way for new taxes imposed abroad to strengthen furniture and work made in the United States.
The White House said the tariff investigation is part of a multiple approach to restore dominance in the U.S. furniture industry.
“In the late 2000s, the U.S. was one of the world’s largest furniture manufacturers, and the position has since been undermined by unfair diplomatic practices,” White House spokesman Kush Desai said. “The Trump administration is committed to implementing a nuanced, multifaceted approach to tariffs, deregulation, tax cuts and energy abundance to restore the advantages of U.S. manufacturing.”
gentlemen. trump card The recent “artists” in North Carolina and other states with furniture history should teach their children and grandchildren how to make furniture.
“It will be done soon.” trump card explain.
gentlemen. Friedman It says RH should be able to avoid new tariffs better than smaller brands, although he warned of bad results.
“More furniture tariffs could also lead to U.S. manufacturers moving production from the U.S. to countries closer to international customers, thus avoiding the possibility of freight costs and tax deductions,” he wrote. “Our hope is that the survey will look for the cross-section of leaders in the industry as we move towards the best results in our country.”
Meanwhile, his letter showed that RH was responding to Mr. Trump’s The tariffs are “positively responded” by shifting production from China to India.
“While the hand-knotted carpet category is highly specialized and not made in the United States, we have begun to determine the process of replacing the country.” Friedman Write. “We also provide most of the resources for decorating furniture for our North Carolina factory, where we have been manufacturing for 10 years and plan to continue to do so.”
The company predicts that more than half or 52% of upholstered furniture will be produced in the U.S., 21% in Italy and 12% in Mexico by the end of fiscal 2025.
gentlemen. Friedman The percentage of goods produced in the United States is also expected to “continue to increase throughout 2026”.
Promoting production to the United States is Mr. Mr. Mr. Mr. Mr. Trump’s Tariff agenda. He also believes that tariffs are a negotiating tool with foreign countries and a way to earn money from the Ministry of Finance.
Importers paid customs officials the tariffs when they brought foreign goods into the U.S. market.
Some companies sued tariffs, resulting in a court ruling against Mr. trump card. The Supreme Court will file a lawsuit in November.
gentlemen. trump card Said that the ruling on tariffs on his national rule would be devastating.
“We will have to refund trillion dollars.” trump card said Friday on Fox and Friends. “We are a wealthy, strong country and when we have money we can do more for the people.”
Legal cases do not affect specific duties for steel, aluminum or automobiles, or if furniture is in place.
