Story perspectives

Tariffs Hike Costs, Rethinking Black Friday Discounts

11/16/2025

Summary

Story summary

Tariffs and slower spending are challenging the U.S. holiday season, prompting retailers to rethink Black Friday discounts.
Lisa Cheng Smith of Yun Hai Taiwanese Pantry says tariffs raised her costs by 20% to 50%, limiting discounts.
Analysts predict a strange shopping season as consumers prioritize essential spending.
LendingTree estimates tariffs could add $28.6 billion in holiday gift costs, averaging $132 per shopper, with electronics and apparel most affected.

History

Historical Context

The Smoot-Hawley Tariff Act, signed by President Herbert Hoover on June 17, 1930, raised tariffs on over 20,000 imported goods to protect U.S. industries during the Great Depression. This protectionist measure led to a 67% decline in international trade, exacerbating economic hardship globally. Its legacy serves as a cautionary tale against similar tariffs, which can hinder economic recovery and consumer spending.

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Story summary

Tariffs and slower spending are challenging the U.S. holiday season, prompting retailers to rethink Black Friday discounts.
Lisa Cheng Smith of Yun Hai Taiwanese Pantry says tariffs raised her costs by 20% to 50%, limiting discounts.
Analysts predict a strange shopping season as consumers prioritize essential spending.
LendingTree estimates tariffs could add $28.6 billion in holiday gift costs, averaging $132 per shopper, with electronics and apparel most affected.

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