Tariff bite......

Trump's tariffs are already affecting back-to-school shoppers

From CNN's Vanessa Yurkevich

Back-to-school shopping is already under way. And this year’s essential: avoiding tariffs.

Two-thirds of Americans with school-aged children started shopping for the upcoming school year in July, the earliest on record, according to a new survey from the National Retail Federation. Families, concerned that President Donald Trump’s tariffs could drive prices even higher, are looking for deals and pulling back on spending.

“Consumers are being mindful of the potential impacts of tariffs and inflation on back-to-school items, and have turned to early shopping, discount stores and summer sales for savings on school essentials,” said Katherine Cullen, vice president of industry and consumer insights at the NRF, in a statement.

Half of back-to-school shoppers say they are hitting stores earlier this year compared to last year specifically because they are worried tariffs will increase prices, the NRF’s survey found. Many school essentials like backpacks, clothing, and electronics are imported into the United States.

Tariffs on most of America’s trading partners are set to rise on August 1, unless they can make a trade deal with the United States before then.