logo
How have tariffs impacted fireworks prices?

How have tariffs impacted fireworks prices?

CBS News03-06-2025
Our nation's birthday is just about a month away, and the cost for a key element to the fun is now "up in the air."
As Americans plan July Fourth festivities, WCCO wanted to know how tariffs have impacted fireworks prices.
A rainbow of excitement adorns the shelves at Fireworks Nation in North Hudson, Wisconsin.
"Every year the product gets better and better, and safer," said Anders Nelson, owner of Fireworks Nation.
He says customers have asked him if the price of his fireworks has gone up amid President Trump's trade war with China.
"We're not raising our prices at Fireworks Nation," he said confidently. "Some of our shipments were affected by the tariffs, and we definitely saw our costs are up this year. Shipping costs are up, but we're holding our prices."
While their prices hold steady, other retailers might raise them, according to Julie Heckman. She's the executive director of the American Pyrotechnics Association.
"(Price hikes) will depend on whether the retailer got their product here prior to the tariff hikes and if not, how much can they absorb versus what do they need to pass on to the consumer," said Heckman.
She says consumer fireworks, the kind people buy at the store, already had a 5.3% tariff. It jumped to 20% in early March as the trade war got started. By April 9, reciprocal tariffs were pushed as high as 145%.
"It hit at the absolute worst time when all of our products are trying to get here from China for the Fourth of July," said Heckman.
Nelson and other retailers typically order their fireworks from China a year in advance. They're produced in the fall and winter, then shipped in the months leading up to the next Fourth of July.
"In our case, we had ships on the water, and so, of course, we had to take them in, so we did have some tariff charges or shipping charges. But all of the ones that had not been shipped, we put a halt on the orders," said Nelson.
President Trump's 90-day pause on the tariffs was helpful, but Heckman said it kick-started other issues.
"When the tariffs were reduced a couple of weeks ago to 30%, many of the importers said, 'Go ahead, put my containers on the water.' But the issue will be, will they get here in time for the Fourth of July?" said Heckman.
Most of Nelson's current product arrived before the new tariffs hit, so he's not worried about the upcoming holiday.
"We're a volume dealer. We are more than a year ahead in our purchasing, and so we've been building our inventories," said Nelson.
There is industry-wide concern regarding 2026, when the U.S. celebrates its 250th birthday.
"The demand is going to be very high, plus [Fourth of July] falls on a Saturday, a weekend," said Nelson.
Fireworks production in China came to a halt during the height of the tariffs, said Heckman, including workers being laid off. Production resumed once the tariffs were paused, but the delay created a potential supply chain problem that lingers into next year.
"We are very concerned about 2026 because we lost vital manufacturing production time," said Heckman.
Given the uncertainty with the trade war and how tariffs could impact prices in the months ahead, Heckman advises people to shop early.
"Don't be surprised if there are some shortages. Shelves are not going to be bare, but there might just be a certain item that you're used to getting that maybe that retailer doesn't have in stock this year," said Heckman.
Nelson wants people to shop smart and seek the best prices. More importantly, he wants them to make sure they're being smart about how they use the fireworks.
"When you come together and you have your party, just make certain that you're safe. Read the labels on the packages and have a great, fun, safe, and happy Fourth of July," said Nelson.
Studies show that over 96% of all fireworks in the U.S. come from China. Last year, that amounted to $452 million in product.
Heckman would like to see the fireworks industry get a special exemption from heightened tariffs, which she said is what happened during Mr. Trump's first term.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Business confidence subdued amid tariffs but 'worst-case' less likely: BoC survey
Business confidence subdued amid tariffs but 'worst-case' less likely: BoC survey

Yahoo

time4 minutes ago

  • Yahoo

Business confidence subdued amid tariffs but 'worst-case' less likely: BoC survey

A pair of reports from the Bank of Canada say tariff-related uncertainty continued to put a damper on business and consumer sentiment in the second quarter, but the worst-case trade scenarios previously anticipated seem less likely. The central bank's business outlook survey said 28 per cent of firms are now planning for a recession in Canada, down from 32 per cent last quarter but still up from 15 per cent over the previous two quarters. Sales outlooks remain pessimistic overall due to widespread concerns about the effects of a slowing economy, but the report says recent monthly surveys suggest some improvement in firms' outlooks, especially among exporters because few have been directly affected by current tariffs. Meanwhile, the Canadian survey of consumer expectations says spending intentions have weakened further because of persistent tariff threats. Consumers also continue to see the labour market as soft amid "elevated" fears of job loss. The reports come ahead of the Bank of Canada's next interest rate decision and monetary policy report set for July 30. This report by The Canadian Press was first published July 21, 2025. Sammy Hudes, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

7 credit score myths you should stop believing
7 credit score myths you should stop believing

Yahoo

time4 minutes ago

  • Yahoo

7 credit score myths you should stop believing

If you've ever learned anything about credit scores from a friend, a family member, or social media, I'm sorry to tell you this, but you may have some unlearning to do. In my past role as an NFCC-certified credit counselor and my cumulative 12 years working as a financial educator, I've heard some bizarre myths and rumors about credit scores, a few of which are really popular. Sure, myths can be fun. But when it comes to credit scores, they have major consequences. Some of the most commonly held myths can leave you with perpetually low credit scores and make it hard for you to qualify for mortgages or credit cards. Here are the most common and harmful credit myths I've come across, and the truth you need to know about each one. This embedded content is not available in your region. Top credit score myths debunked 1. Checking your credit reports lowers your scores When I encourage people to pull their credit reports, I tend to hear the same response: "Won't that hurt my credit scores?" The answer is a firm "no!" The truth is, pulling your own credit reports does not hurt your credit scores at all. In fact, if you don't pull and review your reports, you may never be able to build good credit. That's because reviewing your reports helps you with all of the following: Finding out what's in your credit file Discovering what needs to be improved Finding and disputing credit report errors Catching signs of identity theft You can pull your credit reports for free once a week at 2. You need to carry a balance to build good credit I wish I had a dollar for every time someone told me that carrying a 30% credit card balance (that's a balance equal to 30% of your card limit) helps you build good credit scores. The reality is that the lower your credit card balance is, the better for both your credit scores and your wallet. When you have low balances, you reduce your credit utilization ratio (the amount of credit you're using compared to your total available balance). The lower your credit utilization, the better it is for your credit scores because you're showing lenders that you don't need credit cards to cover your expenses. Additionally, if you pay off your full credit card balance by the monthly due date — which I highly recommend — you can avoid high interest charges. 3. I don't need to worry about my credit until I want a loan In my credit counseling days, I often got calls from people who wanted help fixing their credit ASAP. Often, it was because they had just submitted an application for a car loan, or made an offer on a new home. Unfortunately, I had to let them know that it usually takes months, and sometimes years, to clean up credit mistakes and build good credit. For example, even if you pay off your credit card today, it can take a month or more for the $0 balance to show up on your credit reports and be factored into your credit scores. And if you want to build good credit scores, it can take months or even years, depending on the condition your credit is in now. 4. Paying off collection debt helps your credit scores I receive several emails a month from people who are desperate to remove old collection accounts from their credit reports. The reason? They want to improve their credit scores — fast. Unfortunately, there's no guarantee that paying off a collection account will improve your credit scores. Here are a few credit score facts to keep in mind before you consider sending money to a debt collector: Medical collection debt under $500 has no impact on your credit scores. Paying off a collection account does not remove the account from your credit reports. Most credit score calculations do not make a distinction between paid and unpaid collections. That said, depending on the type of debt, you may want to pay off collection accounts anyway. It can stop debt collectors from contacting you or even taking legal action against you. However, if the debt is old and close to falling off your report (typically seven years from the original delinquency), paying may reset the clock on the debt. So, if you're unsure about how to handle a debt in collections, it's a good idea to reach out to an accredited credit counselor for guidance. 5. Disputing accurate information will improve your credit scores Most credit myths are a mix of truth and fiction, and this one is no different. Here's what's true: If you find an error in your credit reports, you have the right to file a dispute (for free) and get the information corrected or removed. But you do not have the right to get accurate information removed from your reports. Unfortunately, some people view the dispute process as an invitation to try and remove any negative information, even if it's accurate. In fact, there are credit repair companies that charge money to dispute correct information on your behalf. If you do dispute correct information, there's a chance it will be removed from your reports while the credit bureau investigates your claim. But once they confirm that it's accurate, the information will reappear on your reports. 6. A good credit score means you're rich Wealth doesn't impact your credit scores, at least not directly. Yes, your income level can impact how much money you borrow, whether you're able to repay loans and credit cards, and other behaviors that affect your credit. However, your income is not a factor in determining your credit scores. In fact, even if you're considered rich, but you don't pay your debt on time, you will have poor credit scores. 7. Bad credit history follows you forever As a credit counselor, I spoke to many people who believed that a bankruptcy or foreclosure from the '80s or '90s was still damaging their credit. While events such as bankruptcy, foreclosure, and repossession will cause severe damage to your credit scores, the damage only follows you for a limited time. Here's a breakdown of the timelines: 7 years: Missed debt payments (at least 30 days late), vehicle repossession, home foreclosure, and Chapter 13 bankruptcy. 10 years: Chapter 7 bankruptcy and positive credit information As negative information gets older, it has less of an impact on your credit scores. Once it's removed, it has no impact at all. Up Next Up Next

Why Shiba Inu Is Surging Today
Why Shiba Inu Is Surging Today

Yahoo

time4 minutes ago

  • Yahoo

Why Shiba Inu Is Surging Today

Key Points Cryptocurrencies largely advanced after the U.S. House of Representatives passed several crypto bills last week. The crypto rally is broadening out to altcoins. 10 stocks we like better than Shiba Inu › Since the market closed on Friday, the price of Shiba Inu (CRYPTO: SHIB) had traded 7.6% higher as of 10:15 a.m. ET today. There's no obvious reason behind the move, although the crypto sector largely moved higher this weekend due to several events. President Trump signs stablecoin bill into law President Donald Trump signed the Genius Act into law after the market closed on Friday. The Genius Act was one of three bills passed by the U.S. House of Representatives last week during so-called Crypto Week, and will look to create a framework for stablecoins, which are digital assets pegged to a commodity or currency. Investors likely believe that the three bills passed last week could create a regulatory environment that better positions crypto for the long term. In other crypto news, Trump Media & Technology Group announced today that it had purchased $2 billion of Bitcoin, the world's largest cryptocurrency. The crypto custodian firm BitGo also reportedly filed for an initial public offering, as momentum in the crypto sector is leading start-ups to consider going public. Additionally, the crypto rally seems to be broadening. Much of it had been dominated by Bitcoin and a few other cryptocurrencies for most of the year. But the new crypto legislation has lit a spark under cryptocurrencies like Ethereum, which seems to be benefiting from the stablecoin legislation because some of the largest stablecoins are issued on Ethereum's network. Shiba Inu was launched on top of Ethereum's network as an ERC-20 token, although has since built a layer-2 solution to conduct off-chain transactions. Shiba Inu often moves for no apparent reason It's not uncommon to see Shiba Inu move with the sector, although often with more volatility. While the token has advanced since launching in 2020, particularly with its layer-2 solution Shibarium, I still view it largely as a meme token and therefore advise investors to stay away. Should you buy stock in Shiba Inu right now? Before you buy stock in Shiba Inu, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Shiba Inu wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Bram Berkowitz has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy. Why Shiba Inu Is Surging Today was originally published by The Motley Fool

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store