Here's what to know about the anticipated consumer impact of the new tariffs, according to experts: In a social media post late Thursday, Trump proposed a 50% tariff on home goods such as kitchen cabinets and bathroom vanities, as well as a 30% tariff on upholstered furniture.

Unlike some of its competitors, IKEA remains largely reliant on the physical retail experience. Rivals like West Elm and Crate and Barrel now get more than half their revenue from online sales. IKEA U.S. only does some 35% of its sales online—but that is triple the rate it boasted when Quiñones became CEO in 2019.

While companies have been able to eat some higher costs from tariffs enacted earlier this year, that flexibility has limits, experts say.

President Trump is unleashing a new round of tariffs on furniture with the stated goal of reviving North Carolina's furniture manufacturing industry. Why it matters: After the South lured factories and thousands of jobs from the North with the promise of cheap labor in the mid-20th century,

Trump last week said that steep tariffs on upholstered furniture, and kitchen and bathroom vanities would take effect on Wednesday.

U.S. President Donald Trump's threat to impose 100% tariffs on branded drugs ratcheted up pressure on pharmaceutical companies to agree price cuts and shift manufacturing after talks faltered earlier this year,

On Monday, Trump posted on Truth Social that other nations had "stolen" America’s movie industry like "candy from a baby." To solve this "long time, never-ending problem," the president said he would be imposing a "100 percent tariff on any and all movies that are made outside of the United States.