Wayfair Inc. ( W ) shares are trading lower Monday after President Donald Trump said the United States is conducting a tariff investigation on furniture imports.

What To Know: According to CNBC, Trump wrote on Truth Social that the probe will be completed within 50 days, after which furniture coming from other countries into the United States will be tariffed at a rate yet to be determined.

"This will bring the Furniture Business back to North Carolina, South Carolina, Michigan, and States all across the Union," Trump wrote.

Shares of other furniture stocks also moved lower following the news, including RH and Williams-Sonoma, Inc. ( WSM ) . Wayfair ( W ), which imports much of its furniture, could face higher costs if new tariffs are imposed. RH and Williams-Sonoma ( WSM ) have been working to diversify their supply chains, but they too, could feel pressure.

La-Z-Boy, which manufactures most of its products in the U.S., moved higher on the news as investors viewed the company as a potential beneficiary of stricter import policies.

The announcement comes as the furniture industry struggles with weakening demand. Companies like Wayfair ( W ) have reported slowing sales for more than a year as higher interest rates weigh on the housing market, leaving consumers with fewer reasons to purchase big-ticket items such as new couches and dining sets. Inflation has also made shoppers more selective, cutting back on discretionary categories like home decor, clothing and travel.

Trump has previously placed steep tariffs on cars, steel and aluminum and has floated similar duties on imports ranging from copper to pharmaceuticals and semiconductors. It was not immediately clear whether new tariffs on furniture would be applied on top of existing country-specific rates.

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W Price Action: At the time of writing, Wayfair ( W ) stock is trading 4.98% lower at $73.98, according to data from Benzinga Pro.

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