Halloween Prices Soar Due to Trump's China Tariffs
Halloween shoppers are set to face higher prices this year, with an NRF survey revealing that 79% expect to pay more. The Trump administration's trade war with China is largely to blame, with tariffs leading to increased costs for businesses and consumers alike.
The Halloween and Costume Association estimates that 90% of Halloween products contain overseas components, with China being a significant source. President Trump's tariff hike from 20% to 145% in April, before reducing to 30% in May, has had a substantial impact.
Chris Zephro, owner of Trick or Trick Studios, has seen tariff costs totaling over $800,000 this year. To cope, he's had to lay off 15 employees, the first in the company's 15-year history. Zephro and Ryan Goldman, owner of Phantom Halloween, have also decided not to sell certain pieces this year due to increased import costs. This has led to a tighter inventory and higher prices for shoppers, with many production orders halted in April.
Reyna Hernandez, a mother shopping for her son's costume, found that prices have increased significantly. An appropriate hat now costs $30. Despite the higher prices, Halloween spending is expected to reach a record $114.45 per person this season, $11 more than last year.
The Trump administration's trade war with China has had a clear impact on Halloween spending this year. With 90% of Halloween products containing overseas components, increased tariffs have led to higher prices and reduced availability. Despite this, Halloween spending is set to reach a record high, indicating that shoppers are still eager to celebrate the holiday, even with the additional costs.
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