(Reuters) – Upscale home furnishing retailer RH (N:) said on Friday it expects to significantly reduce the amount of goods sourced from China by the end of fiscal 2019 to mitigate the impact of the proposed new tariffs.
RH said it expects to cut its sourcing from China to as low as about 25 percent in fiscal 2019, down from 40 percent in 2017.
The United States, on July 10, threatened to slap tariffs on Chinese goods worth $200 billion, including furniture and lighting products, days after enforcing levies on goods worth $34 billion from China at the start of the month.
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