Americans can thank Trump’s tariffs for Christmas being a lot more expensive this year. A study by LendingTree applied Trump’s tariffs to 2024’s Christmas shopping data and found that had the tariffs been in place last year, the average American would have spent an additional $132 on Christmas gifts, on top of the average $902 each the National Retail Federation found shoppers spent. “We estimate consumers and retailers would have faced an extra $40.6 billion burden from gift purchases,“ said the study. ”Consumers would have shouldered an estimated $28.6 billion, while retailers would have absorbed $12.0 billion." The numbers are particularly troubling for Americans looking to buy electronics and clothing this holiday season, two of the most popular—and most imported—categories of goods. T

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