President Donald Trump has announced an investigation into imported furniture that could lead to more tariffs in the coming months.
Like with other tariffs, the president’s intent is to bring furniture production back to the U.S.
But experts say the biggest impact may be higher prices.
Business is booming at Rocky Mount-based Virginia Furniture Market. With nine locations already, the company is about to open a new store in Danville.
“And we’re excited to be part of what we really see as a renaissance in that Southside area, so we’re thrilled to be there,” said Joel Shepherd, owner of Virginia Furniture Market.
Existing tariffs like those on imports from China and Vietnam is already having an impact on some furniture retailers. But Shepherd said, so far, tariffs haven’t had a major impact on their business or customers.
“I think we’ve worked pretty hard to try to minimize that by shifting to different products or working with suppliers to mitigate any tariffs, plus we already do a very substantial amount of product that’s made in America,” he said.
If President Trump gets his way, more American-made products could be on the way. He hopes tariffs on imported furniture will bring production back home.
Parts of the region, like Martinsville and Henry County, suffered steep job losses when production moved overseas.
The Virginia Economic Development Partnership says almost 10,000 people currently work in furniture and cabinet production in the commonwealth — well below the industry’s peak.
Shepherd is hopeful but cautious.
“I think we would welcome more Made in America product. I think it’s going to be difficult. It’s going to be harder than probably a lot of people realize.”
David Bieri, associate professor of public policy at Virginia Tech, agrees.
“North Carolina and Southern Virginia may see an uptick, but we’ve lost too much talent and too many of our economic structures have been over the last 10, 20 years destroyed that they won’t spring back immediately because of this,” Bieri said. “And things will get more expensive for the consumer at the end of the day.”
Shepherd said the industry has seen a lot of change in his 30 years in business, and they will adjust to this too.
“I think we tend to be pretty scrappy and nimble, and we just adapt when things change,” he said.
Late Friday, a federal appeals court ruled that most of Trump’s tariffs are unconstitutional but left them in place for now.
The administration plans to appeal the ruling and said the tariffs remain in effect.