Tariffs will add $28 billion to holiday spending this year
Update: 2025-11-03
Description
As the holiday season approaches, rising tariffs threaten to make gifts more expensive, with American consumers potentially facing an additional $29 billion in costs. Experts warn that this could lead to increased use of credit cards and personal loans, and may force some families to cut back on gift-giving. The impact is widespread, affecting categories like electronics, clothing, and home decor, with nearly 90% of clothing and nearly 70% of electronics sold during the holidays being imported. Shoppers are advised to focus on finding sales and comparing prices to stay within budget.
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