Between the upcoming holidays and President Trump’s tariffs, shoppers are rightly concerned about higher prices on some of the season’s most popular gifts. Toys, video games and other holiday staples are among the items now hit with higher import taxes.
According to Mastercard, the degree to which tariff increases directly impact consumers remains uncertain, but consumers could respond by purchasing the items anyway, substituting cheaper goods, or spending more money on services or other goods that are more insulated from tariffs.
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Here’s a closer look at how those tariffs break down across some of the most popular imported holiday gift categories.
Toys
Tariffs on imported toys reached 22.4% for baby and toddler items and 20% for toys aimed at ages 3 to 12 in June 2025, according to Mastercard. Back in May, Mattel, toy manufacturer and maker of Barbie, announced that it would increase prices for some products in the U.S. due to Trump’s tariffs, CNBC reported.
Hasbro CEO Chris Cocks told CNN host Audie Cornish of “The Assignment” podcast earlier this year that toy prices could start to rise this fall due to tariffs. The toymaker has since hiked some of its prices on fan favorites, Yahoo Finance reported.
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Video Games and Consoles
Tariff rates on video game consoles reached 10.6%, according to Mastercard.
In September, Microsoft announced that it was raising its prices on Xbox gaming consoles in the U.S. for the second time this year, according to Reuters. The company attributed it to “changes in the macroeconomic environment.” The 1-terabyte Series S now costs around $450, while the Series X is now around $650. These changes went into effect on Oct. 3.
Sporting Goods
Per Mastercard, tariffs on imported sporting goods climbed to approximately 23.2%, up from the prior year’s 5.5%. For holiday shoppers preparing to pick up exercise equipment or outdoor gear, that jump could mean higher shelf prices.
While specific company statements for sporting goods aren’t as widely reported, elevated tariffs are still expected to add cost pressure, especially on items heavily sourced from abroad.
Bicycles
Bicycles saw an 18.4% tariff rate, Mastercard pointed out.
PeopleForBikes and the National Bicycle Dealers Association recently asked for bike retailers, suppliers and manufacturers to oppose the requested 50% tariffs on aluminum and steel. The Commerce Department’s two-week public comment period to oppose these tariffs ended on Oct. 21.
Books
Books may see a lower tariff rate of about 4.7%, per Mastercard. Though that’s still higher than the 1.5% duty rate in 2024. While many books are printed in the U.S., imported printing equipment, paper and ink may carry higher costs and raise overall production costs.
Musical Instruments
Musical instruments saw tariff rates reach 15.3%, per Mastercard. That could translate into higher prices on imported guitars, keyboards and brass instruments, especially those made in China or Indonesia.
Retailers say student-level and entry-level models are the most affected. For example, one Kansas City store serving school band customers initially absorbed the cost of a preordered instrument from Germany, which jumped from $150 to $1,000 back in April, NPR reported. Since then, the store was forced to raise prices for the first time in 2 1/2 years and announced that it would stop ordering from overseas and instead try to find manufacturers closer to home.
Chocolate
According to Mastercard, tariffs on imported chocolate reached 5.2%, up from the previous year.
Reuters also noted that chocolate prices could remain elevated, as cocoa prices have more than doubled since early 2024, citing a report by Wells Fargo’s Agri-Food Institute. Costs have eased since the late 2024 peak, but manufacturers are still passing along their increased costs to consumers.
Beauty Products
Tariff rates for makeup and perfumes were 10.8% and 9.9%, respectively, according to Mastercard’s data.
In January 2025, Vogue Business stated that over 25,000 mass beauty products could face price hikes as tariffs increased, packaging and raw materials costs grew, and supply chain disruption rose. Some brands known for luxury perfumes, skincare and cosmetics could be facing steeper import costs this holiday season.
Fashion and Accessories
According to Mastercard, tariffs reached 29.3% for leather gloves, 21.4% for leather handbags and suitcases, 25.4% for clothing, 25.9% for sweaters, 21.6% for hats, and 14.7% for jewelry.
These are among the highest rates across consumer goods categories. The American Apparel & Footwear Association noted that “the average effective tariff rate on both footwear and apparel is over five times higher than on all other U.S. imports.”
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This article originally appeared on GOBankingRates.com: See the High Tariff Rates on Toys, Video Games and 7 Other Popular Holiday Gifts
