Furniture Companies Rise on U.S. Trade Deal With Vietnam

Published: 2025-07-02 13:04:10 ET W

Published on 07/02/2025 at 13:04

By Kelly Cloonan

Shares of U.S. furniture retailers ticked up after the Trump administration struck a deal that would lower proposed tariff levels on goods from Vietnam.

The across-the-board boost in the companies' shares comes after President Trump said Wednesday the U.S. would charge 20% tariffs on Vietnamese goods, compared with the 46% tariffs he had announced in April before putting the duties on pause to allow for negotiations.

The industry's stocks had come under pressure with Trump's initial tariff proposals amid fears of significantly higher costs, given many furniture companies had pivoted toward Vietnam and other countries to source low-cost goods in recent years in an attempt to avoid tariffs on China from Trump's first term.

Wayfair led the rise, up 7.4%, to $55.85. Shares of RH climbed 4.5%, Lovesac rose 4.3% and Williams-Sonoma--which owns furniture retailer West Elm--was up 2.5%. Office-furniture companies MillerKnoll and Steelcase edged up 2% and 2.2%, respectively.

The administration's new trade deal should make tariffs manageable for Wayfair, Mizuho analysts said in a note. The Boston company likely has greater than 10% sourcing exposure to Vietnam, according to the analysts' estimates.

Write to Kelly Cloonan at [email protected]

(END) Dow Jones Newswires

07-02-25 1303ET