"President Donald Trump might not be ruining Christmas, but he's making it more expensive. American families are expected to spend $1 trillion on gifts and other goods this November and December, roughly 4 percent more than they spent last year. But they're paying more for everything-artificial trees, ornaments, toys, novelty sweaters. They have fewer options to choose from when they log on to Etsy and browse upscale boutiques."
"Holiday shoppers might not notice that things are a little less merry and bright than they would have been otherwise. The average family is expected to spend $132 more this year because of tariffs-not nothing, but not enough to break the bank, either. But wage growth has been cooling. The unemployment rate has been rising. Consumer confidence has been falling sharply. Rent, co-pays, mortgages, car payments, and utilities remain brutal for average families to afford-and health insurance is about to get radically more expensive."
Tariffs tied to the Trump administration's trade war have raised prices and reduced product availability for holiday shoppers. American households will spend about $1 trillion this season, roughly 4 percent more than last year, while paying higher prices for items such as artificial trees, ornaments, toys, and novelty sweaters. Average family holiday costs are expected to rise by about $132 because of tariffs. Some retailers have stopped shipping to the United States or closed, and companies have adjusted supply chains, rerouted sourcing, stocked up to avoid fees, and sought supplier discounts. Cooling wage growth, rising unemployment, falling consumer confidence, and high essential costs are pushing shoppers toward cheaper outlets and deferred major purchases.
Read at The Atlantic
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