As the holiday season approaches, many Americans are concerned about rising prices due to ongoing tariff disputes between the United States and its trading partners, particularly China. Consumers and businesses are feeling the financial strain of these tariffs, leading to higher costs for everyday goods.

• A Goldman Sachs report estimates that US consumers are paying at least 55 percent of tariff costs, with predictions of this rising to 70 percent by the end of 2026.
• The US and China, the world's biggest superpowers, have been urged to resolve their trade imbalances, with President Xi Jinping and US President Donald Trump meeting in Busan, South Korea, where the tariff on Chinese imports was lowered from 57 percent to 47 percent.
• The impact is evident in various sectors, with candy prices 10.8 percent higher than in 2024 and coffee prices increasing to around $7.93 per pound in May 2025, up from $6.30 in 2024, affecting holiday shopping and daily routines.