Small businesses say Trump tariffs are hurting this group of consumers this holiday season-here's what is getting more expensive | Fortune
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Small businesses say Trump tariffs are hurting this group of consumers this holiday season-here's what is getting more expensive | Fortune
"But Butler says she and her twin sister-business partner had to work harder this year to turn browsers into buyers and to make a profit. Many of the decorations and stocking stuffers they sell are made overseas and either did not arrive or got more expensive when President Donald Trump imposed unusually high taxes on imported goods, she said. In response, the sisters focused their selection on more profitable items like nutcrackers and gift baskets."
"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, according to a December poll from The Associated Press-NORC Center for Public Affairs Research. A Gallup index that summarizes Americans' assessments of current economic conditions fell to a 17-month low in November."
Historic Ah Louis Store in San Luis Obispo becomes a heavily decorated holiday shop offering over 500 types of ornaments and numerous gift baskets. Owners shifted inventory toward higher-margin items such as nutcrackers and gift baskets after import delays and rising costs tied to tariffs increased prices or prevented shipments. Customers are spending more cautiously, choosing lower-priced baskets and buying fewer ornaments. Unpredictable tariffs, persistent inflation and weak hiring have weakened consumer confidence across the U.S., and many adults report noticeably higher prices for groceries, electricity and holiday gifts.
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