Trump initiates an investigation into duties on imported furniture to boost domestic manufacturing in the U.S.

The Trump administration has announced an investigation into furniture imports, aiming to determine new tariff rates and potentially revive the furniture manufacturing industry in states such as North Carolina, South Carolina, and Michigan.

According to the latest data from the Treasury Department, the total tariff revenues for the fiscal year have reached an impressive $158.3 billion. This figure represents a significant increase in just a few months, surpassing the projected revenues for 2024.

President Trump made the announcement on his Truth Social account on Friday afternoon, stating, "Beautiful surge in tariff revenues on imported goods." The White House, however, did not immediately respond to FOX Business' request for comment.

The announcement comes amid ongoing trade talks with Canada, who has lifted tariffs on some US goods. The investigation and subsequent duties are intended to bring the furniture business back to states across the United States.

The focus of the investigation will be on furniture coming into the United States from dozens of countries. However, specific government officials responsible for overseeing this investigation have not been identified in the search results.

In July, the U.S. collected more than $29 billion in tariff revenues, marking the highest monthly total this year. Despite this, the president did not specify the rate at which furniture imports will be tariffed. Once determined, these tariff rates will be imposed.

The investigation is expected to be completed within the next 50 days. This move is part of the Trump administration's efforts to protect domestic industries and create jobs in the United States.

FOX Business' Amanda Macias contributed to this report.