"As Americans gear up for another bustling holiday season, shoppers may find their budgets stretched further than expected-not by retailers' markups, but by tariffs. According to a new LendingTree analysis, current tariffs amount to what is essentially a $29 billion tax on the 2025 holiday shopping season, hitting families and individuals right as they fill their carts with gifts for loved ones."
"Crucially, $28.6 billion-over 70% of this increase-would have been passed directly onto consumers. That translates into an estimated $132 in extra costs for the every holiday shopper in the United States. Matt Schulz, LendingTree's chief consumer finance analyst, emphasized that anything increasing the cost of holiday shopping creates "real challenges for consumers." For most Americans, he added, "spending an extra $132 at the holidays is significant.""
"The report shows not all gifts are impacted equally. Electronics and clothing or accessories are particularly hard-hit, accounting for more than 60% of the additional consumer costs. The average extra tariff cost per shopper was estimated at $186 for electronics, and $82 for clothing or accessories. With 88% of all clothing and 69% of electronics being imported, the holiday shopping lists of many Americans are tightly linked to global supply chains-and thus, to tariff policies."
Current tariffs amount to an effective $29 billion tax on 2025 holiday shopping, increasing costs for families and individuals at point of purchase. Tariffs raised the overall cost of 2024 winter holiday gift shopping by $40.6 billion, with $28.6 billion—over 70%—passed directly to consumers, translating to roughly $132 in extra costs per holiday shopper. Electronics and clothing or accessories account for more than 60% of the additional consumer costs, with average extra tariff costs of about $186 for electronics and $82 for clothing. An estimated $377.7 billion was spent on imported gifts during the 2024 winter holiday season.
Read at Fortune
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