Major furniture retailers see stocks plummet after Trump's social media warning

President Donald Trump's warning that imported furniture will soon face tariffssent stocks reeling for major retailers, according to a report.

On Friday, Trump said on his Truth Social platform that his administration was conducting a major tariff investigation into furniture imports. The administration plans to impose tariffs at a rate still to be determined once the probe is completed within the next 50 days.

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

The announcement reverberated through the furniture retail sector, the Wall Street Journal reported. Wayfair sunk 6.2% at $73 in after-hours trading on Friday, according to the Journal, while shares of RH slipped 7.5%. Williams-Sonoma saw its stock plunge 5.6%.

Two furniture retailers that make most of their products in North America were notable exceptions, however, with both La-Z-Boy and Ethan Allen Interiors seeing shares climb following the post. La-Z-Boy rose 2.5% to $37.48, while Ethan Allen soared 5.2% to $31.60.

The new tariff announcement comes a day after a Fox Business host was forced to acknowledge Trump's signature policy is hitting Americans in the pocket.

During a Thursday afternoon segment on "Claman Countdown," guest host Cheryl Casone acknowledged that the biggest "blue chip" stocks were taking a beating, and honed in on retail giant Walmart as a prime example.

It also comes after a a Minnesota small-business owner was brought to tears on CNN talking about the effect Trump's tariffs have had on her olive oil and vinegar shop.