Ongoing tariffs may put a crimp in holiday shopping budgets.
According to a new analysis by LendingTree, holiday shoppers could spend an additional $132 each on average, an estimate based on what they would have spent last holiday season if the current tariffs had been in place.
That's a total of $28.6 billion that would have been passed on to shoppers. Electronics would have seen the biggest increase, with shoppers spending an extra $186, while clothing or accessories would have cost $82 more. The two categories together would have been an estimated 60.7% of the winter holiday gifts tariff burden, LendingTree said.
"People should expect they may have to spend a little bit more this holiday season if they want to get the same amount of stuff they did last year," LendingTree’s chief consumer finance analyst Matt Schulz told USA TODAY.
Tariffs are an ever-changing topic.
