Article Summary –
The article highlights that escalating tariffs imposed by President Donald Trump’s administration are contributing to rising costs for Valentine’s Day gifts and activities, with the average spending expected to reach about $200 per person. These tariffs, particularly affecting imported goods such as flowers and chocolates, are forcing businesses to raise prices or reduce product sizes, leading to financial strain on consumers and small businesses alike. As a result, nearly 40% of celebrators plan to dine out, despite the additional expenses, and a significant portion of Americans view the current economic conditions as challenging.
One in four Americans anticipate new debt this Valentine’s Day as flower prices, candy costs, and restaurant bills spike due to tariffs under President Donald Trump’s administration.
A recent Defend America Action report highlights a $200 per person expenditure for the holiday, a 6% increase from last year.
Trump’s tariffs on imported goods impact American businesses, with costs often passed to consumers, leading to price increases.
This is evident in the floral industry, with over 85% of U.S. cut flowers imported. Small businesses with tight margins face challenges.
“We have to charge more, and it’s affecting sales,” said Allison Krivachek, owner of Hydrangea Bloom in Iowa, to CNN last Mother’s Day.
Roses have risen by nearly a dollar a stem since last year, with a dozen costing $90.50 on average nationally, reaching $110 in some areas.
Chocolate prices have surged by 19%, leading retailers to adjust size and purity to counter rising costs, known as “shrinkflation.”
“We’ve had to reduce weight and increase price,” a Cadbury spokesperson told the BBC.
Tariffs on food impact restaurant prices, with 40% of Valentine’s celebrants dining out. An Applebee’s steak dinner for two ranges from $55 to $72.
Inflation and policies have pushed up grocery, utility, and health insurance costs. A recent Pew survey reports 72% of Americans view economic conditions as fair or poor. A New York Times/Siena poll shows two-thirds feel a middle-class lifestyle is now unreachable.
The post New report: Valentine’s Day costs are up amid Trump tariffs appeared first on American Journal News.
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