This holiday season, American consumers might find themselves facing steeper prices on a range of imported goods, from clothing to electronics, due to the impact of tariffs. As analyzed by LendingTree, these tariffs could significantly influence the cost of holiday shopping.
According to LendingTree’s estimates, if current tariffs had been applicable last year, the holiday gift expenses for American consumers would have surged by an additional $28.6 billion. This translates to an extra $132 per shopper, a burden that many might find substantial.
Matt Schultz, LendingTree’s chief consumer finance analyst, remarked on the implications of these findings, stating, “For most Americans, spending an extra $132 during the holidays is significant. It may lead people to either reduce their gift-giving or incur more debt.”
