RH, Wayfair up after Trump delays higher tariffs

Trump on Wednesday issued a year-long pause on increased levies on upholstered furniture, along with kitchen cabinets and vanities. Instead, the duties on upholstered furniture will remain at 25% — the level Trump set in September.

Before Trump’s 11th-hour reversal, the levies for this furniture type were slated to rise 30% with the start of 2026. He pointed to ongoing trade discussions as the reason for pushing back tariff increases.

Trump called tariffs an “overwhelming benefit” to the U.S. and said that the country losing its ability to place duties on others would be a “terrible blow” in a Friday morning social media post. His comments come as the White House awaits a decision from the Supreme Court about the legality of many of Trump’s new levies.

Furniture suppliers have been under Wall Street’s scrutiny as Trump’s focus on broad and steep levies on imports has raised concerns about rising costs. But stocks in the sector fared vastly different as investors determined how trade policy changes and other variables would impact each business.

Wayfair surged more than 125% in 2025 as value-focused retailers gained traction among consumers. On the other hand, West Elm and Pottery Barn parent Williams-Sonoma slid more than 3% last year. RH —whose chief executive garnered attention in April as he reacted live to the stock tanking — ended the year down more than 50%.

“Oh, sh–,” RH CEO Gary Friedman said on the California-based company’s earnings call in April.

“It got hit when, I think, the tariffs came out,” Friedman added. “Everybody can see in our 10-K where we’re sourcing from, so it’s not a secret, and we’re not trying to disguise it by putting everything in an Asia bucket.”