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US tariffs are having an uneven effect on holiday prices and purchases
Tariffs raised import costs by up to 145%, causing some retailers to increase prices and consumers to reduce holiday gift budgets by $229, according to an AP-NORC poll.
- 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.
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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.
·United States
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Total News Sources67
Leaning Left17Leaning Right6Center34Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 30%
C 60%
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