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Co-owners Dean Smith, left, and Joanne Farrugia pose for a photograph in JaZams, one of their toy stores Friday, June 27, 2025, in Princeton, N.J.

Small businesses say Trump tariffs are hurting this group of consumers this holiday season—here’s what is getting more expensive

Consumers’ estimated gift budgets decreased $229 between October and November, according to a Gallup index.

December 15, 2025

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