Goldman Sachs says US furniture manufacturers Restoration Hardware, Williams-Sonoma could get hit in

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Goldman Sachs says US furniture manufacturers Restoration Hardware, Williams-Sonoma could get hit in latest round of tariffs

https://www.cnbc.com/2018/07/11/goldman-sachs-proposed-tariffs-could-increase-prices-for-furniture-h.html

Restoration Hardware, Williams-Sonoma and other U.S. furniture manufacturers that import sofas, tables and other goods from China could take a hit in the Trump administration's latest round of tariffs released Tuesday, according to Goldman Sachs.

The White House on Tuesday released a list of tariffs on $200 billion in imports that could hit U.S. manufacturers that make a lot of their goods in China. It targets a litany of industries with a 10 percent tariff, including China's seafood, agriculture, commodity and textile markets as well as consumer goods like furniture, handbags and appliances.

Manufacturers are facing reduced profits or passing the higher prices on to consumers, analysts led by Matthew Fassler said in a research note published Wednesday.

China supplies 65 percent of furniture imported into the U.S. and the tariffs cover all furniture imported from China, roughly $28 billion worth, Goldman estimated, adding that analysts originally expected just $11 billion of furniture imports would make the list.

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