00:00According to LendingTree, Americans' wallets will be significantly impacted this holiday season due to President Trump's tariffs, with an estimated increase in holiday costs of more than $40 billion.
00:11Consumers are expected to bear most of these costs, amounting to more than $28 billion, or around $132 per shopper, while retailers will absorb the remaining $12 billion.
00:23This financial strain may lead consumers to shift their gift-giving plans or incur additional debt.
00:29The tariffs will particularly impact buyers of holiday electronics, with an average extra cost of $186 per shopper, followed by clothing and accessories at $82 a person.
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