### Comment:
Do they have suppliers in China? Seems like most sourcing material outside of steel would be from US or Canada

### REPLY:
I think any construction sources stone, tile, component wiring, etc. from China. I'm away from my computer so I can't find a specific source now, but TOL has referred to the tariffs as a headwind before (as has the broader industry: it's why we saw stockpiling activity before the end of 2018).  
  
 Maybe even more importantly, though, the tariff threat changes the sentiment around earnings. So even if things look good, guidance will be like a wet blanket.

### END.