US EditionUS tariffs are having an uneven effect on holiday prices and purchases
Tariffs raised import costs and disrupted supplies, causing U.S. consumers to lower holiday gift budgets by $229, the largest drop recorded by Gallup this season.
- 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.
95 Articles
95 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.
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.
Amid the holiday season, Trump’s Tariffs Are Straining Small businesses
In recent days, the Trump administration has touted record Black Friday spending as an indication that the president’s tariff policy has had little impact on the economy. However, economists, financial experts, and small businesses across the country have pushed back against this claim, sounding the alarm over the lasting economic impact rising costs will have on working Americans. According to Politico, economists and corporate executives are…
Coverage Details
Bias Distribution
- 68% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
