There’s one more item for your holiday budget list: tariffs

Ongoing tariffs may put a crimp in holiday shopping budgets.

According to a new analysis by Lending Tree, holiday shoppers could spend an additional $132 each on average, an estimate based on what they would have spent last holiday season if the current tariffs had been in place.

That’s a total of $28.6 billion that would have been passed on to shoppers. Electronics would have seen the biggest increase, with shoppers spending an extra $186 while clothing or accessories would have cost $82 more. The two categories together would have been an estimated 60.7% of the winter holiday gifts tariff burden, Lending Tree said.

“People should expect they may have to spend a little bit more this holiday season if they want to get the same amount of stuff they did last year,” LendingTree’s chief consumer finance analyst Matt Schulz told USA TODAY.

Tariffs are an ever changing topic.

The future of President Donald Trump’s tariffs will be examined on Nov. 5 when the U.S. Supreme Court is set to hear arguments over whether Trump has the authority to impose tariffs under the 1977 International Emergency Powers Act.

On Oct. 29, Trump changed some tariffs on China after a meeting with Chinese President Xi Jinping. Trump said he would immediately halve a fentanyl-related tariff that had been at 20%, as previously reported by USA TODAY. It will be reduced to 10%. A variety of other tariffs are still in place, leaving the rate at 45% to 47% on certain Chinese imports.

According to the Lending Tree analysis, consumers and retailers would have faced an estimated $40.6 billion extra in costs during the 2024 winter holidays, if current tariffs had been in place. Consumers would have seen the $28.6 billion increase while retailers would have absorbed $12.0 billion, Lending Tree said.

Imported goods are big business, especially during the holidays. Lending Tree estimates consumers spent $377.7 billion on imported goods during the 2024 winter holidays. That included 88.0% of imported goods, or $117.5 billion, spent on clothing and accessories and $111.6 billion spent on electronics.

Tariffs: President Trump says he’ll cut tariffs on China after meeting with Xi Jinping

The additional costs to shoppers “isn’t going to make holiday shopping easier, but I think people kind of already expect that this holiday season’s going to be a little more expensive,” said Schulz.

They’re already seeing the price hikes.

A monthly survey by Morning Consult of 2,200 Americans found for the month of October that consumers continue to see more price increases from tariffs.

Forty-nine percent of shoppers surveyed said they were spending the most on tariff-related increased prices at the grocery store with personal care and gasoline next (tied at 38%) and medication and medical supplies coming in third at 36%.

Forty-one percent of U.S. consumers said they are already buying fewer items since it will cost more with 25% reporting that they would consider doing that. Another 38% said they had already adjusted their budget to prepare for higher costs with 28% saying they are considering it.

Schulz suggests socking away a little extra before the holidays, evaluating credit card sign-up bonuses or comparison shopping.

“Life’s expensive in 2025 and there are steps people can take to make things a little easier on themselves,” he said.

Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at blinfisher@USATODAY.com or follow her on X, Facebook or Instagram @blinfisher and @blinfisher.bsky.social on Bluesky. Sign up for our free The Daily Money newsletter, which breaks down complex consumer and financial news. Subscribe here.

This article originally appeared on USA TODAY: How much more could tariffs add to your holiday budget?