On news that the Trump administration proposed a new wave of tariffs on goods from China this Tuesday, one team of analysts on the Street suggests that companies that import goods such as sofas, tables and other products from the country could suffer the most. (See also: 8 Stocks That Are Leading in a Volatile Market.)

Goldman Sachs views Restoration Hardware Holdings Inc. (RH), Williams-Sonoma Inc. (WSM), Michael Kors Holdings Ltd. (KORS) and Tapestry Inc. (TPR) as among the firms that will take a hit if the White House approves a new list of tariffs on $200 billion in imports, given they are set to negatively affect U.S. companies that manufacturer a large portion of their goods in China. The new wave of import levies targets a handful of industries with a 10% tariff, such as China's agriculture, commodity and textile markets, as well as consumer goods segments like furniture, handbags and appliances, as reported by CNBC. 

As manufacturers in the affected industries face higher input costs, they will transfer this on to consumers via an increase in prices, or see their profitability fall, wrote Goldman Sachs analyst Matthew Fassler in a note Wednesday. He highlighted the fact that roughly 65% of all furniture imported into the U.S. comes from China, or about $28 billion worth. While initially, the investment bank estimated that just $11 billion of furniture imports would make the list, Trump's proposed tariffs would cover all furniture. 

New Tariffs to Hit Firms With Major Production in China

Corte Madera, California-based Restoration Hardware imports 77% of its volume by dollars from Asia and a majority from China, estimates Goldman, putting its profits at risk if it cannot successfully raise prices. Handbag companies Michael Kors and Tapestry, which sells Coach and Kate Spade accessories, were not as lucky as apparel and footwear companies that were spared from the new list. Goldman wrote that Michael Kors produces "mainly in China" while Tapestry has disclosed less information and that "manufacturers are located in many countries." 

Ultimately, the impact on covered retailers will "depend on on their ability to pass through pricing increases or divert sourcing to other markets," wrote Fassler. (See also: 4 Food Stocks to Outperform Amid Trade Uncertainty.)