American Journal News: New report: Valentine’s Day costs are up amid Trump tariffs
One in four Americans expect to take on some degree of debt this Valentine’s Day as prices for flowers, candy, and restaurants continue to spike because of President Donald Trump’s tariffs.
A new report from Defend America Action finds that those celebrating the holiday this year will spend about $200 per person, which is nearly 6% higher than last year.
Trump has imposed tariffs, which are essentially a tax on imported goods, on several countries and products. The tax is paid by American companies, and the additional cost is often passed on to consumers in the form of price increases.
This trend has been particularly pronounced in the floral industry. More than 85% of cut flowers sold in the U.S. are imported. The vast majority of sellers are small businesses that are already struggling with tight margins.
“We have to charge more, and it’s definitely affecting sales,” Allison Krivachek, the owner of Hydrangea Bloom in Iowa, told CNN last Mother’s Day.
Roses, for example, are up nearly a dollar a stem since last year. The national average for a dozen roses is $90.50. In some states, it’s as high as $110.
The same is true of chocolate prices, which have surged by 19% since Trump returned to the White House. Several retailers have decreased both the size and purity of their chocolates to try to offset the ballooning costs, a practice sometimes referred to as “shrinkflation.”
“As a result of this difficult environment, we have had to make the decision to slightly reduce the weight and increase the list price,” a spokesperson for Cadbury told the BBC.
Tariffs on other foods have led to higher prices at restaurants. Nearly 40% of those celebrating Valentine’s Day this year plan to eat out. A steak dinner for two at Applebee’s can now cost between $55 and $72 depending on the part of the country.
Inflation and other White House policies have further driven up prices on groceries, utilities, and health insurance. A new Pew survey found that 72% of Americans rate economic conditions as poor or fair. A New York Times/Siena poll found that two-thirds of Americans now feel a middle-class lifestyle is out of reach.
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