US EditionUS tariffs are having an uneven effect on holiday prices and purchases
Import tariffs on toys, electronics, and jewelry have raised prices by up to 20%, causing retailers to adjust inventory and consumers to reduce holiday spending, trade groups say.
- 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.
29 Articles
29 Articles
U.S. tariffs are having an uneven effect on holiday prices and purchases
Along with the unpredictable tariffs, stubborn inflation and weak hiring have shaken consumer confidence in the U.S. economy. The vast majority of U.S. adults say they've noticed higher than usual prices for groceries, electricity and holiday gifts in recent months.
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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