Christmas shopping season temporarily escapes a disaster? UBS: Trump's delay of tariffs may postpone price shocks until 2026

U.S. President Trump has postponed the tariff increase to August 1, and UBS Chief Economist Paul Donovan stated that this could delay the impact on prices during the Christmas holiday until 2026. Although the tariffs will raise inflation, early orders by retailers may mitigate the impact on consumers. Donovan warned that the eventual tariffs will impose a heavy burden on American households, real wages will decline, and consumers may rely on credit cards and savings, cutting back on spending