Santa Claus might be able to evade customs checkpoints as he magically smuggles toys into the country for the good boys and girls—but everyone else doing Christmas shopping this year could run into some problems.
Thanks to higher tariffs and other disruptions to global trade, some toys might be more expensive this holiday season. Others might be in short supply, and those that arrive from foreign countries by mail could come with a surprise nastier than a stocking full of coal: an expensive tax bill from the U.S. government.
