It has been six months since President Donald Trump announced new "liberation day" tariffs, which are a key part of his trade agenda.
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American consumer wallets will be billions of dollars lighter this holiday season because of President Donald Trump’s tariffs, according to LendingTree
Sunday marked six months since Trump announced his broad “liberation day” tariffs.
Prices for select food and consumer goods rose in the wake of that announcement.
And consumers are set to see more of the impact from those tariffs as holiday items that have been stored in warehouses for months are finally hitting store shelves.
Impacts have been muted so far as companies built up inventories ahead of the duties and have absorbed some of the impact.
A Lending Tree analysis came up with an estimate if current tariffs were in place during the 2024 holiday season.
US households paid $1,000 more for the same goods over the past year, with lower-income families hit the hardest.
The Center for American Progress said the tariffs haven't been a Christmas gift for American business, more like a lump of coal.
Trump’s tariffs have raised costs, driven up prices, hit key industries, and brought in $124bn ahead of August 1.
Computers, toys and clothing are among the items poised to see a spike in price.
