Tariffs will increase total holiday costs by $40.6 billion, with consumers bearing about $28.6 billion, or roughly $132 per shopper
American shoppers will pay $132 more this holiday season as President Donald Trump’s tariffs raise prices on food, electronics, and clothing, according to LendingTree.
The company estimates that tariffs will increase total holiday costs by $40.6 billion, with consumers bearing about $28.6 billion. Retailers will absorb the remaining $12 billion.
LendingTree’s analysis, based on 2024 winter holiday spending, reveals the biggest impact on electronics, resulting in an additional $186 cost per buyer, followed by clothing at $82, personal care at $14, and food at $12.
Retail experts predict that shoppers will likely cut back or take on extra debt to manage their costs. One LendingTree analyst warned that higher prices may force people to buy fewer gifts this year.