The holiday shopping season is in full swing, with the National Retail Federation projecting spending to grow at least 3.7% this year compared to last year. But businesses throughout the country are feeling economic pain amid President Donald Trump’s tariffs.

What You Need To Know

The National Retail Federation projects consumers will spend $1 trillion this holiday shopping season for the first time

Many small businesses are feeling the effects of President Donald Trump’s tariffs on foreign countries, including China, where many toys are made

Small business owner Hagan Walker attributes a revenue loss between $3 million to $5 million because of tariffs

Hagan Walker, CEO of The Glo Companies, said he’s “hoping for a Christmas miracle” as he enters peak season for sales of his light-up

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