President Donald Trump may have spoiled Christmas for American families with his erratic tariff strategy.

A new Wells Fargo report released Wednesday projects higher prices, fewer choices, and scant holiday promotions.

Facing import taxes of 10 to 50 percent under the president’s global tariffs, U.S. companies are confronted with the uphill task of controlling costs while limiting price increases for consumers.

Grabbing popular seasonal essentials like apparel, furniture, and décor, will inevitably cost shoppers more, according to Wells Fargo’s 2025 Supply Chain Report, as these items are largely imported.

Shoppers should also anticipate finding fewer promotions and reduced big-ticket rebates on items like appliances, Jeremy Jansen, head of global originations for Wells Fargo Supply C

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