Trump Has Already Ruined Christmas
Even if the president were to call off the tariffs tomorrow, he’s unleashed a series of supply chain shocks that will cause consumers pain beyond store shelves.
The afternoons are getting warmer, the cherry blossoms have bloomed, the sun is setting a little bit later—obviously, now is the time to be thinking about Christmas. Or, at least, it might be time to think about Christmas shopping.
The holidays aren’t exactly around the corner, but it’s starting to seem inevitable that President Donald Trump’s ever-changing tariffs—launched in early April, delayed for imports from most countries until July, repeatedly escalated for Chinese imports, and threatened for even more things like movies and pharmaceuticals throughout the spring—will kneecap the year’s busiest shopping season. The administration’s placeholder policy of a 145% duty on most Chinese goods and 10% on most other imports—dropped yesterday to 30% for 90 days—hasn’t emptied shelves or spiked prices quite yet, but your shopping experience is a lagging indicator when it comes to tumult in the global supply chain.