Holiday spending forecast to hit $1 trillion as tariffs drive up gift prices

With holiday shopping less than a week away, the National Retail Federation projects spending could top $1 trillion for the first time. Consumers are being warned to expect higher prices on popular gifts such as toys, apparel and electronics, partly due to tariffs. Experts say cost‑conscious shoppers can still stretch their dollars, but shortcuts may backfire, and manufacturers are adjusting products to keep expenses down.