{"id":1052830,"date":"2025-05-07T15:50:05","date_gmt":"2025-05-07T19:50:05","guid":{"rendered":"https:\/\/democrats.org\/?p=1052830"},"modified":"2025-05-07T15:50:06","modified_gmt":"2025-05-07T19:50:06","slug":"trump-is-the-grinch-who-stole-christmas-and-its-only-may","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/trump-is-the-grinch-who-stole-christmas-and-its-only-may\/","title":{"rendered":"Trump is the Grinch Who Stole Christmas \u2014 And It\u2019s Only May"},"content":{"rendered":"\n
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Donald Trump\u2019s expensive and unpopular agenda is \u201calready wreaking havoc\u201d<\/a> on Americans\u2019 holiday shopping as they brace for empty shelves<\/a> and fewer presents<\/a> \u2014 and it\u2019s only May. While the Federal Reserve<\/a> is sounding the alarm on higher unemployment and inflation risks, business profits<\/a> have already sunk to recession levels as Trump causes \u201cmore pain\u201d<\/a> for millions of hardworking Americans.<\/p>\n\n\n\n

Here\u2019s a look at how Trump\u2019s chaotic economic agenda is hurting American consumers and businesses:<\/em><\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cMattel Plans Price Increases on American Toys\u201d<\/strong><\/p>\n\n\n\n

\u201cThe company also scrapped its financial forecast for the year, saying that President Trump\u2019s trade war has made it too difficult to predict consumer spending. \u2026<\/strong><\/p>\n\n\n\n

\u201cTo offset an estimated $270 million cost of tariffs this year, the maker of Barbie dolls and Hot Wheels cars said it would accelerate its efforts<\/strong> to shift manufacturing out of China and raise prices, \u2018where necessary\u2019 on its U.S. products.<\/strong> Mattel is supporting the toy industry\u2019s lobbying efforts to press for zero tariffs on toys, Kreiz said.\u201d<\/p>\n\n\n\n

Bloomberg<\/a>: \u201cTrump Tariffs Are Already Wreaking Havoc on Holiday Shopping\u201d<\/strong><\/p>\n\n\n\n

\u201cChief Executive Officer Monty Sharma said he has to go back to customers such as Target Corp. and Best Buy Co. to discuss even more price hikes after Trump slapped additional levies on China. Meanwhile, all the uncertainty has pushed Therabody to shut down some production and delay product launches. The company, like many suppliers, keeps inventory lean and has about eight weeks of goods left, increasing worry it will sell out by the holidays. \u2026<\/strong><\/p>\n\n\n\n

\u201cMultiply Therabody\u2019s experience by the thousands of US suppliers and retailers across the US, and Americans are headed for a much different Christmas than in years past. Shoppers are primed to see fewer new products and deals, while the retail industry is expected to experience more pain \u2014 should tariffs stay in place.<\/strong><\/p>\n\n\n\n

\u201cTrump last week said Americans just might have to get used to less.\u201d<\/strong><\/p>\n\n\n\n

Mike Zaccardi, CFA, CMT<\/a>: \u201cDownward earnings revisions for S&P 500 firms have spiked to levels not seen since the pandemic or the Global Financial Crisis\u201d<\/strong><\/p>\n\n\n\n

Reuters<\/a>: \u201cGlobal economy already feeling drag from Trump tariffs\u201d<\/strong><\/p>\n\n\n\n

\u201cBig-name multinationals right down to niche e-commerce players last week cut sales targets, warned of job cuts and reviewed their business plans, while major economies revised down growth prospects amid bleak data read-outs. \u2026<\/p>\n\n\n\n

\u201cFor now, most economists are calling the Trump tariff gambit a \u2018demand shock\u2019 to the world economy which, by making imports more expensive for American businesses and consumers, will sap activity elsewhere.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Donald Trump\u2019s expensive and unpopular agenda is \u201calready wreaking havoc\u201d on Americans\u2019 holiday shopping as they brace for empty shelves and fewer presents \u2014 and it\u2019s only May. While the Federal Reserve is sounding the alarm on higher unemployment and inflation risks, business profits have already sunk to recession levels as Trump causes \u201cmore pain\u201d […]<\/p>\n","protected":false},"author":293,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1052830","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nTrump is the Grinch Who Stole Christmas \u2014 And It\u2019s Only May - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/trump-is-the-grinch-who-stole-christmas-and-its-only-may\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-07T19:50:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-07T19:50:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png?w=1024\" \/>\n<meta name=\"author\" content=\"Shelby Reese\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shelby Reese\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/trump-is-the-grinch-who-stole-christmas-and-its-only-may\/\",\"url\":\"https:\/\/democrats.org\/news\/trump-is-the-grinch-who-stole-christmas-and-its-only-may\/\",\"name\":\"Trump is the Grinch Who Stole Christmas \u2014 And It\u2019s Only May - 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