US EditionUS tariffs are having an uneven effect on holiday prices and purchases
Trump-era tariffs and ongoing inflation have raised holiday prices and altered retailer strategies, leading to a $229 drop in average gift budgets, poll data reveals.
- The Associated Press reported U.S. import tariffs are raising holiday prices and U.S. consumers cut gift budgets by $229 between October and November.
- Policy shifts prompted suppliers to rush shipments, as the Trump administration set tariffs from 10% to a 50% peak and settled at 47%, causing uncertainty.
- Retailers reported wholesale costs rose for 80% of inventory by 5% to 20%, and Sony and Best Buy raised PlayStation 5 prices by $50 to $550 this year.
- Consumer confidence fell as the Gallup index hit a 17-month low in November, while higher jewelry prices from India diamond shipments are expected later, Jewelers of America says.
107 Articles
107 Articles
Associated Press News
US tariffs are having an uneven effect on holiday prices and purchases
Many U.S. consumers say they’ve noticed higher than usual prices for holiday gifts in recent months, according to a a December poll from The Associated Press-NORC Center for Public Affairs Research.
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Trump’s Tariffs Raise Prices and Weaken Holiday Spending
The cost of the Trump administration’s tariff policies is evident on store shelves and in household budgets, and The post Trump’s Tariffs Are Raising Prices and Lowering Holiday Spending appeared first on Brewminate: A Bold Blend of News and Ideas.
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