Item 1A. Risk Factors
ITEM 1A. RISK FACTORS
There have been no material changes to the risk factors disclosed in Part I, Item 1A, “Risk Factors" in the Company’s Annual Report on Form 10-K for the year ended December 28, 2024, other than as set forth below.
Escalating changes in trade policies of the United States and other countries that are beyond our control, including the imposition of new tariffs and the potential renegotiation or termination of existing bilateral or multi-lateral trade agreements, may have a material adverse impact on our business, operating results, and financial condition.
The current domestic and international political environment, including changes to trade laws, regulations and policies with respect to tariffs, sanctions, and import/export controls, has resulted in uncertainty surrounding the future state of the domestic and global economies. The U.S. government recently implemented, or plans to implement, significant trade policy and tariff actions, including but not limited to tariffs on imported lumber and other wood-based commodities, multiple tariffs on certain imports from China, tariffs on certain imports from Canada, and baseline tariffs on most imports from most other countries. These actions have increased, or potentially will increase, the cost of certain raw materials and manufactured components and created significant uncertainty and potential risks for our business. Certain countries have announced retaliatory tariffs in response to such actions. The U.S. government may in the future propose and implement additional changes to international trade agreements, tariffs, taxes, and other government rules and regulations and, if initiated, retaliatory tariffs or other actions may be taken by certain governments. While the future financial impact of these actions and potential additional U.S. tariff actions and retaliatory actions by other countries remains unknown, the impacts could have a material adverse effect on our financial statements in any particular reporting period.
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