With many major holidays just around the corner, people around the country are bracing for some of the most expensive times of the year. Yet, due to the economic changes brought by the implementation of President Trump’s tariffs, this holiday season will be more expensive than usual.
As defined by the International Trade Administration, a tariff is a tax levied by governments on imported products. According to Bryce Bunton, marketing teacher, the impacts of tariffs will hit American consumers soon.
“A lot of companies have tried not to increase prices too much so far, but it’s going to happen eventually,” said Bunton. “They are going to need to raise their prices, and that cost is going to get passed onto the consumer.”
As prices for basic necessities rise throughout the country, American consumers will be forced to make decisions on what to cut back on. Bunton said that the frivolous purchases made throughout the holiday season will be some of the first to go.
“Some of the first things that we see cut back on in the economy are leisure and fun activities,” Bunton said. “Entertainment, travel and going out to eat are usually some of the first things to go.”
Grocery stores around the country have also raised the costs of their products to combat the increased importation taxes. Josef Schaumberger, Trader Joe’s employee, said he has noticed some of the price changes made by his workplace in recent months.
“For instance, a 16 oz bag of pumpkin seeds is $9.99, which is a lot higher than they’ve been in recent years,” Schaumberger said. “$10 is pretty expensive for a small amount of pumpkin seeds.”
Unfortunately for consumers, holiday products have not escaped rising prices either. In fact, according to Schaumberger, they have been hit the hardest.
“I’ve definitely noticed that almost everything new coming out for the holidays this year has been a lot more expensive than usual,” Schaumberger said. “Though that hasn’t deterred people from buying the same amount as usual.”
However, some families are worried that the worst is yet to come. An anonymous KSD parent fears that things have the potential to get worse.
“A lot of the tariffs haven’t even gone into effect yet,,” the parent said. “It could get ugly.”
Even though things are bound to become more expensive, Bunton believes that it’s important to not let it put too much of a damper on the upcoming holidays. He said it is still possible to enjoy and appreciate the season without needing to spend inordinate amounts of money.
“I think that there’s a lot of spending that could be cut back, but Americans definitely love us some holiday celebrations regardless,” Bunton said. “It’s also probably dependent on where you’re at in the country and where your family is financially.”
