Halloween is only five days away, but forget the fun and frights—this year, American families face a real nightmare: skyrocketing prices from US tariffs on Chinese goods. Costumes, decorations, and candy costs are exploding, forcing households to slash budgets or ditch the holiday altogether.
Halloween's joy sours into economic dread under tariff pressures.
The National Retail Federation's October 23 report lays it bare: 79% of Americans brace for pricier Halloween hauls, shelling out more for outfits, decor, and sweets. NRF projects a record $13.1 billion in US spending this year, up from $11.6 billion last time, with per-person outlay hitting $14.45—a $1 jump that stings.
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Halloween's joy sours into economic dread under tariff pressures.
Picture Chris Zephro on California's Santa Cruz Island, staring down his toughest stretch in 15 years running a Halloween warehouse. Gory latex masks, Saw movie props, and zombie gear fill the shelves, but unlike the fake blood, his business bleeds real cash—over $800,000 in tariffs since Trump's April crackdown on Chinese imports. It's led to his first-ever layoffs: 15 workers out the door.
"That was one of the worst days of my life," Zephro recalls. "These were my friends; I know their families and I'm hoping to bring them back." He adds helplessly, "I would love to have a conversation closed doors with Trump, because he's not an idiot. He took the same classes in business school that I took, so let's drop the veil," he said. "This is Economics 101. Tariffs are paid by importers."
Chris Zephro.
Tariffs Bite Importers Hard
Trump's tariffs don't stop at warehouses—they slam straight into shoppers' wallets, turning holiday cheer into hard choices. Importers absorb the hit first, but everyday buyers feel the pinch.
Reyna Hernandez in California hunts for a costume hat for her 6-year-old son, only to balk at the $30 tag. "It's just ridiculous. We cannot even afford this at all. Like, a lot of people are not going to be able to afford a costume this year," Hernandez said. She's piecing together the outfit in installments now, stretching every dollar.
Ryan Goldman, running a Halloween costume chain, fights to shield customers from the full blast. "The idea is to hold as many prices as we can knowing that because of tariffs, things are going to go up," Goldman said. "But we don't want (higher prices) to be 100% across the board. That's not fair." He pegs costume hikes at $5 to $10 on average, propping up kids' sizes by jacking adult ones higher.
Candy and Booze Get Pricier
Tariffs creep beyond costumes into the candy aisle, where Halloween's sweet staple turns sour on budgets. Hershey's claims no change, but shoppers spot a 48-bar chocolate box leaping from $40 to over $50. Blame it on tariffs plus West Africa's weather woes slashing cocoa output—global production dipped 12.9% last year to 4.37 million tons, a 494,000-ton shortfall unseen in 60 years. Prices doubled as Côte d'Ivoire output fell 25.3% and Ghana's plunged 31.3%, per Reuters.
Even adult treats feel the squeeze—US tariffs on European wines and spirits kill any festive discount dreams. No breaks for French, Italian, or Spanish vintages, nor Scotch whisky. The EU shipped $3.4 billion in spirits to the US last year; now those bottles climb in price, dimming the party vibe.
Families fight back with DIY hacks amid the price storm and shortages. At Ohio State University's costume studio, director Mayer pushes thrift-store raids: snag cheap clothes, shred them, dust with powder for instant zombies. Start budgeting early, she says, and your getup looks sharper when it counts—turning tariff pain into creative wins.
Halloween ranks fourth in US sales holidays, trailing only the winter rush, back-to-school frenzy, and Mother's Day. Yet Trump's tariffs cast a long shadow—merchants and buyers alike groan that this year's tricks feel more terrifying than any treat or ghost.
Deep Throat
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Trump just rolled out another tariff threat, and this time Iran's trading partners are in his crosshairs. On January 12, the US president announced a blanket 25% tariff on any country "doing business" with Tehran.
The international press immediately fixated on China—Iran's biggest trade partner. Reuters warned this could reignite the US–China trade war and shred the fragile truce both sides hammered out last year. But Chinese scholars aren't buying it. They say Trump lacks the nerve to slap Beijing with new tariffs, because China will hit back hard—and make him regret it.
Anti-government protests erupt in Iran. (AP photo)
The Financial Times reported on January 12 that these tariffs—which took effect immediately—could slam China, India, Turkey, Pakistan, the UAE, Brazil, and Iraq. All of them trade heavily with Iran. Russia sealed a new free trade deal with Iran in 2025, making it another potential target.
CNN pointed out the stakes for Beijing. China trades with both Iran and the US, so if Washington applies these tariffs, Chinese goods entering America could see costs spike. The network recalled that after last year's summit in Busan, South Korea, the Chinese and US presidents agreed to pause portions of their tariff war—a temporary truce.
Iran as Flashpoint, Again
Reuters published a piece on January 13 titled "Trump's Iran Tariff Threat Risks Reopening China Rift." The article traced how Iran became a powder keg in US–China relations during Trump's first term (2017–2021).
Back then, Washington tightened sanctions on Tehran and blacklisted Huawei, accusing the Chinese telecom giant of selling tech to Iran. That led to the arrest of Huawei founder Ren Zhengfei's daughter, Meng Wanzhou, in Canada—triggering a diplomatic crisis and sending bilateral tensions through the roof.
Now Trump's targeting Iran again. If he follows through, total US tariffs on Chinese exports could exceed 70%—way higher than the rates both sides agreed to last October when they dialed down their trade fight.
It's still unclear which countries or entities Trump will actually target. He hasn't named China explicitly. But Reuters noted Trump has a track record of making bombastic statements that could upend US foreign policy—only to back off later.
US–China "truce" forged in Busan last year now at risk if Trump's Iran tariffs target Beijing. (AP file photo)
Beijing Calls Trump's Bluff
Wu Xinbo, Dean of Fudan University's School of International Relations, told Reuters that China sees through Trump's posturing. "China will call (Trump's) bluff. I can assure you that Trump has no guts to impose the extra 25% tariffs on China, and if he does, China will retaliate and he will be punished," said Wu.
Another Chinese scholar pushed back on the narrative that China and Iran are economically intertwined, noting that "China and Iran are not as close as in the public imagination".
China Customs data backs that up. Beijing has dramatically reduced imports from Iran in recent years. Through November last year, China imported just 2.9 billion USD worth of Iranian goods—a far cry from the 21 billion USD peak in 2018, during Trump's first presidency.
Some sources claim China's major oil companies stopped doing business with Iran in 2022. Yet China's purchases from Tehran still run into the billions, thanks to independent refiners handling shipments.
China as Convenient Scapegoat
Wang Jin, a researcher at Beijing's Dialogue Think Tank, told reporters that "China is just an excuse, a kind of disguise for the Trump administration, to impose new pressure (on) Iran."
Chinese Foreign Ministry spokesperson Mao Ning responded to Trump's tariff threat on January 13. She stated that China's position on tariffs is crystal clear: tariff wars produce no winners. Beijing will firmly defend its legitimate rights and interests.
Analysts warn that Trump's renewed attempt to cut Iran off from global trade could heighten worries about the Belt and Road Initiative. Iran serves as a strategic hub for Chinese goods heading to the Middle East.
This tariff gambit has cast doubt on Trump's planned April visit to China. Observers had expected him to seal a comprehensive trade deal with Beijing during that trip.
The Wall Street Journal echoed Reuters' concerns, warning that new tariffs on Iran's trading partners could wreck the US–China trade truce.
But Reuters also cited Xu Tianchen, a senior analyst at the Economist Intelligence Unit, who questioned whether Trump's tariff policy is even enforceable. "Last year he announced tariffs related to 'illicit' Russian oil trade, but their implementation was patchy." Xu said.
He went on stating that "Trump is also the kind of person who likes bullying the weak," Xu said. "He should manage his actions to avoid these tariffs escalating into direct confrontation with China".
