This holiday season, American consumers may end up paying an additional $286 billion in tariffs.

The latest research from the American online lending platform LendingTree (TREE.US) shows that, due to the impact of the tariff policies implemented by Trump, American consumers' spending during this year's holiday season will increase by billions of dollars. It has been six months since Trump announced the implementation of large-scale "Liberation Day" tariff measures. Following the implementation of the policy, prices of some food and consumer goods have already increased. As holiday goods that have been stockpiled in warehouses for months are gradually put on shelves, consumers will more acutely feel the impact of the tariff policies. Based on data on winter holiday spending in 2024, LendingTree predicts that the new tariffs will increase the total cost of the holiday season for consumers and retailers by $40.6 billion. Consumers will bear an additional cost of around $28.6 billion, with an average of $132 per shopper, while retailers are expected to absorb the remaining $12 billion in costs. Matt Schulz, Chief Consumer Financial Analyst at LendingTree, said, "For most Americans, spending an extra $132 during the holiday season is not a small amount. This money may not cause catastrophic effects, but it will bring real pressure to many families. It may force people to reduce their gift spending this year, or have to take on more debt." "No one wants to face such a choice," added Schulz. Retail analysts indicate that due to the increased costs caused by the tariffs, retailers are already expecting a decline in sales during this year's holiday season. Schulz agrees with this assessment, saying that many consumers will have to face this "harsh reality." "This means either reducing the number of gifts given, or gritting their teeth to bear the higher costs to fulfill their loved ones' wishes," Schulz said. "Although sales of electronic products and clothing as popular gift items may not plummet, for some individuals, the price increase may leave them with no choice." LendingTree estimates that consumers of electronic products will be most affected by the tariffs, with an average additional expenditure of $186 per person; followed closely by clothing and accessories, with an increase of $82 per person; personal care and beauty products, as well as toys, will see a rise of $14 per person, and food and candy products will require an additional $12 per person.