Between the upcoming holidays and President Trump’s tariffs, shoppers are rightly concerned about higher prices on some of the season’s most popular gifts. Toys, video games and other holiday staples are among the items now hit with higher import taxes.
According to Mastercard, the degree to which tariff increases directly impact consumers remains uncertain, but consumers could respond by purchasing the items anyway, substituting cheaper goods, or spending more money on services or other goods that are more insulated from tariffs.
