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CNBC’s Jim Cramer on Tuesday told investors that he believes domestic furniture production is largely a thing of the past, even as President Donald Trump continues his efforts to make companies manufacture in the U.S.
“Some of these industries aren’t probably going to come back,” he said. “Companies will tell you that you can’t just invent a workforce that knows how to make upholstery. That ship’s sailed.”
Last week, Trump announced the administration had begun an investigation into furniture imports. Trump wrote on his Truth Social platform that the inquiry would be completed within the next 50 days and that furniture from abroad would be subject to tariffs “at a rate yet to be determined.” He said this action would bring the furniture business back to states like North Carolina, South Carolina and Michigan.
