New Delhi, Aug. 23 -- President Donald Trump said on Friday that his administration is conducting a "major Tariff Investigation on Furniture coming into the United States," a step towards imposing higher duties on a sector already witnessing tariff-fueled price increases.

"Within the next 50 days, that Investigation will be completed, and Furniture coming from other Countries into the United States will be Tariffed at a Rate yet to be determined," Trump said in a post on Truth Social.

He also claimed this move will bring the furniture business back to North Carolina, South Carolina, Michigan, and States all across the Union, which in turn will revitalize the domestic furniture market.

Although Trump did not specify in his post about ho...