“In sickness and in health, till death do you part: I do.” Wedding prices soar due to Trump-initiated trade war
Trump new chaotic trade war policies threaten to drive up prices for Americans across the board including for those who plan to tie the knot.
Americans thinking about tying the knot or in the process of planning their wedding may be facing one more concern that could give them cold feet before they get to the alter. President Donald Trump’s chaotic tariff policies could make that special day much dearer as prices are expected to rise across the board.
Levies on aluminum will make the containers for beverages more expensive, the price of gold has hit a record high, and even bridal gowns could get a new surcharge.
Wedding prices could soar due to Trump-initiated trade war
The broad and erratic tariff policy put forth on a daily basis by Trump are causing concern across wide swaths of the American economy forcing producers and retailers to analyze how much of the tax they will have to pay on what they import will have to be passed on to the US consumer. “We have not adjusted our price tags yet, but we’re about to,” said Scott, who didn’t want to give his last name, the owner of Radiant Bride in northeast Ohio.
Price of wedding dresses could rise 10% to 12%
“We are doing all we can to maintain the price level. Our designers are doing all they can,” Scott told Cleveland’s CBS 19 News. He added that expects to have to raise prices anywhere from 10% to 12% as the impact of Trump’s trade tariffs kick in.
That would mean tacking an extra $200 to $300 on a wedding dress that can already cost thousands of dollars. He hopes that clients will be able to “adjust it on their end and their overall budget.”
Bringing production back to the US isn’t feasible and is misguided in his opinion saying, “We don’t have the infrastructure for it. We don’t have the skill set for it.” Roughly 90% of US wedding dresses currently come from China according to Radiant Bride.
Trump tariffs roil markets helping push up the price of gold
Trump’s threats to impose more tariffs on imports into the United Stated and those already enacted have been driving major selloffs in US stock markets hurting Americans’ 401(k) retirement plans and the net wealth of the billionaires who attended his inauguration. The economic uncertainty has pushed investors to seek safe-haven assets like gold as concerns about inflation rising again and a possible recession or worse looms.
The price of gold has shot up almost 14% since the start of the year crossing the $3,000 mark on Friday for the first time. While the value of gold has been on the rise since 2022, it is now well above where it had been predicted to be by the end of this year.
Gold prices passed $3,000 for the first time ever, driven higher by a central bank buying spree, economic fragility worldwide, and President Donald Trump’s attempts to rewrite the rules of global trade by imposing tariffs on allies and strategic rivals https://t.co/qdNJEkS9Uj pic.twitter.com/odePR7njfg
— Bloomberg (@business) March 14, 2025
Drinks at wedding parties could cost more
Couples, when their budget can afford it, like to splurge on weddings serving certain name brands at the wet bar. However, if they are imported, especially from Europe, they will now be much more expensive.
Trump, on Thursday, upped the ante in his trade war brinksmanship with the European Union announcing 200% tariffs on imports of European wine, cognac and other alcohol products. This was in response EU plans to impose tariffs next month on Trump-voting states that “have high iconic value, high symbolical value, that do not cost us much,” according to a senior EU official.
The EU’s move was a countermeasure to the US introducing 25% tariffs on all aluminum and steel imports that went into effect on Wednesday.
Even if couples who are planning their wedding keep the drinks they serve domestic, the import tariffs on aluminum will trickle down to consumers as it will cost more to can beverages. Meanwhile, Europe, which is also a net importer of the metal, contrary to what would have been expected, is benefiting from the Trump tariffs as global trading patterns realign.
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