RH and Williams-Sonoma Get Hit By Trump’s Tariffs on Furniture
1. RH shares dropped 1.6% following tariff announcements on home furnishings. 2. President Trump plans a 50% tariff on cabinets and 30% on upholstery. 3. Import reliance issues highlighted by RH's CEO on facilities and workforce. 4. Tariffs are aimed at protecting U.S. manufacturing from foreign competition. 5. Competitors like Wayfair saw gains despite market drop.