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Liberation Day, as we mentioned, was meant to mark the start of the U.S.

manufacturing comeback.

It's been a rough ride for U.S.

retailers since, even with the Supreme Court striking down those tariffs earlier this year.

Let's take a deeper dive into the impact on retail with Farouk Kathwari.

He is chairman, president and CEO of Ethan Allen, the furniture company.

Farouk, thank you so much for joining us.

So when it comes to the impact of tariffs on your company, you're in a bit of a unique position.

You pointed out to me that you made a decision years ago to base most of your manufacturing in North America.

You have five manufacturing plants in the U.S., two in Vermont and three in North Carolina.

Eighty percent of your furniture is made in North America.

But you do have some overseas presence as well.

Has the tariffs been needle moving for you at all?

How have you had to change that, the economics of that, over the past couple of weeks, given that oil prices have jumped quite a bit and in the foreseeable future it doesn't look like it's going to come back down right away?

Are you still in the process of figuring that out or have you made changes already?

You know, we were talking about RH earlier, Katie.

The CEO of RH had warned that what he's seeing right now is the most dire housing market in decades.

He cited global tensions, tariffs, and economic uncertainty, among other things.