William Blair downgraded RH (RH) to Market Perform from Outperform. President Trump announced new tariffs on imported kitchen cabinets, bathroom vanities, and upholstered furniture under Section 232, starting at 25% on October 14 and rising to as much as 50% on January 1 for countries without trade deals, though the U.K., EU, and Japan are excluded, the analyst tells investors in a research note. The near-term financial impact is expected to be modest in 2025 as companies build inventory, but the higher rates could create greater challenges by 2026, especially for made-to-order furniture.
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