Multiple news reports and December polls show U.S. shoppers and small businesses wrestling with higher prices and tighter budgets this holiday season as new tariffs imposed by the Trump administration ripple through supply chains. AP, Independent, Fortune and other outlets document retailers such as San Luis Obispo’s Ah Louis Store and independent toy shops reporting higher wholesale costs, delayed shipments and product shortages. Industry groups say toys and electronics — much of which are made in China — have seen notable price increases after tariffs that at times ranged from 10% to a peak cited in reporting of 145% before settling at lower rates. Major retailers and console makers have passed some increases to consumers (Sony raised PS5 prices, for example) while gold-driven jewelry price rises add pressure. Polling (AP‑NORC, CNBC All‑America, Gallup and others) finds large shares of Americans noticing higher grocery, electricity and gift costs, with many planning to spend less or dip into savings. The White House has pushed more positive messaging about the economy even as public confidence weakens and shoppers alter holiday buying plans.