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Investing.com -- Bassett Furniture Industries (NASDAQ:BSET) stock rose 7% in pre-market trading Monday, moving in the opposite direction of its competitors following President Donald Trump’s announcement of a planned tariff investigation on imported furniture.
The American furniture manufacturer gained ground while other companies in the sector faced significant declines. RH (NYSE:RH) and Wayfair (NYSE:W) both fell 7%, while Arhaus (NASDAQ:ARHS) dropped 3.6% after Trump declared his intention to launch a "major" tariff investigation on furniture imports.
Trump stated on Truth Social that the investigation would be completed within 50 days, after which imported furniture would be subject to tariffs at rates "yet to be determined." He suggested the move would revitalize domestic furniture manufacturing in states like North Carolina, South Carolina, and Michigan.
Bassett Furniture Industries manufactures, markets, and retails home furnishings throughout the United States, positioning it differently from companies that rely more heavily on imported products. This distinction appears to be driving investor sentiment, as the market anticipates potential benefits for domestic producers should new tariffs be implemented.
The contrasting stock movements highlight how policy proposals can create both winners and losers within the same industry sector, depending on companies’ manufacturing footprints and supply chain structures.
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