Tariffs are driving up the cost of saying 'I do'
President Donald Trump's tariffs - and the accompanying rate changes, moratoriums and trade deals - are translating into higher costs for traditional wedding components, from floral arrangements to designer gowns and even the celebratory spirits that toast a new union.
Small business owners like Brandi Kenison at Lee Floral Design, a small Livonia, Michigan-based floral company that mostly supplies arrangements for luxury weddings, say this year's peak nuptials season has been more financially challenging than the COVID-19 pandemic, when curbs on indoor gatherings crippled many businesses.
'Obviously, during COVID, that made sense. (Now) it's very hard to put into words,' Kenison said. 'Will it (a new tariff) go through? How much will it go through? … It's really difficult for us to be transparent with our clients because we truly don't know.
'What's even harder is when prices on our end jump 25%, but we're contractually only able to raise the price by 10%. That means we absorb the difference, which quickly eats into our margins,' she said. 'It's definitely been a struggle.'
According to the U.S. Department of Agriculture, 80% of all cut flowers sold in the United States are imported, with the primary sources being South American countries, notably Colombia and Ecuador. With current tariffs of 10% on Colombia and 15% on Ecuador, wholesalers, florists and ultimately, engaged couples face higher costs.
'When tariffs are placed on these imports, it inevitably drives up costs - not just for wholesalers and florists, but ultimately for the customer as well,' Kenison said. 'And it's not limited to just flowers. A lot of our day-to-day supplies, like vases, candles, and other staples, are sourced from countries like China, which means those items are also affected by tariffs, further increasing our overall expenses.'
Wedding planners say brides are also experiencing higher prices for dresses and facing shipping delays.
Meagan McPhail, owner of Mitten Weddings, said in an email that 'prices are up and timelines are longer' for dresses due to rising fabric costs. About 12.2 million wedding gowns are produced each year in China, and 70% of them are exported, according to Deep Wear.
'Even some U.S. designers still source their fabrics internationally, so it all adds up,' McPhail said.
Tariffs are adding to already pricey wedding costs that average $300 to $600 per person, according to wedding planners Emma and Rebecca Targett of Meriwether Social. The Ann Arbor, Michigan-based mother-daughter duo planned Sophie Partington and Nicholas Kuchar's Aug. 2 wedding at the Michigan League Ballroom.
'Now, more than ever, that conversation is a part of our everyday planning process with clients,' Emma Targett said. 'Things just cost more right now: food, floral, specifically. Anything that's really commodity-based like that, things that are very supply chain dependent.
'So much of our day-to-day now is explaining to clients that food costs more so these catering bills are higher, a lot of times venue minimums have gone up because they have to account for their increased food cost as well,' she said.
According to a survey conducted by The Knot of 741 engaged couples planning 2025 or 2026 wedding receptions, over half of the couples, or 53%, reported that tariffs had already impacted decisions about their celebrations. The survey also found that instead of reducing their overall budget, many couples are hiring professionals to navigate cost challenges, including booking well ahead of time to avoid paying more.
Take couple Lydia Karpack, 23, of Plymouth and Alex Winnie, 24, of Belleville, Michigan, who will tie the knot at Detroit's Book Tower on Aug. 30. The high school sweethearts got engaged in downtown Plymouth in May 2024 and sought out Meriwether Social to plan their downtown Detroit wedding that is expected to include 145 guests and cost over $75,000.
'There's definitely things that you see that number that a vendor gives you, it's a big number, you're a little shocked about it. Weddings are becoming such this big thing,' Karpack said. 'You really have to evaluate what you really want to splurge on and what's going to be worth it and what you can find alternative ways to get the same look you're going for. It's about balance.'
Since Karpack had the venue, photographer and DJ booked in early 2025, she effectively sidestepped some of the tariff-related price increases from vendors. Still, she was sticker-shocked by the prices of hydrangeas and tulips.
'A lot of florists have minimums. You have to start out at $5,000 or $10,000 for flowers and that doesn't include tax or the design fee,' she said. 'It's like that number, I think, scares people. It's a lot of money to spend on flowers. That was something we realized, 'let's find a different solution here and scale back a bit.''
She said 'no' to a huge arched floral wall but yes to the dress and veil she would wear from Magnolia Laine Bridal - Detroit. Cost for those: More than $3,000.
'My veil was pretty expensive,' Karpack said. 'I had no idea how much veils cost - for a couple yards of fabric, it's like $600. I was very shocked about that. I was going to do an Etsy veil for like $100, but matching the color up to a dress and you're looking at the color on a screen ... it just gets way too stressful.'
Karpack said trimming the flower budget helped the couple afford their preferred reception site, the Book Tower.
'That was something we really wanted to splurge on and then find other ways to save around,' she said, 'so that we could still have the venue that we wanted.'
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Consumers rushed to buy food during England's successful Euros football campaign and the British & Irish Lions rugby tour of Australia, the British Retail Consortium and KPMG said on Tuesday. However, retailers said the return to growth 'barely touched the sides," warning that higher taxes could lead to shop closures and job losses. The BRC report said Britain's fifth-warmest July on record played a significant role in the resurgence, bolstering home appliance and food and drink sales. It came as annualised growth in June came in at a rate of just 0.5%. Oil prices rise after Trump extends China tariff truce Oil prices ticked higher on Tuesday morning, after US president Donald Trump extended a pause on implementing tariffs on Chinese goods for a further 90 days. Trump signed an executive order on Monday to continue the truce until 10 November, with Beijing also announcing an extension of its tariff pause for another 90 days on Tuesday. The truce was set to expire on Tuesday, but this latest extension means the US will maintain its 30% tariffs on Chinese imports and Beijing will hold its 10% levy on US goods. Oil prices rose following the announcement of this extension, as it eased investor concerns that higher tariffs on China would weigh on the economy and demand for fuel. Brent crude (BZ=F) futures climbed 0.2% to $65.84 per barrel at the time of writing, while West Texas Intermediate futures (CL=F) gained 0.2% to $64.10 a barrel. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: Oil prices ticked higher on Tuesday morning, after US president Donald Trump extended a pause on implementing tariffs on Chinese goods for a further 90 days. Trump signed an executive order on Monday to continue the truce until 10 November, with Beijing also announcing an extension of its tariff pause for another 90 days on Tuesday. The truce was set to expire on Tuesday, but this latest extension means the US will maintain its 30% tariffs on Chinese imports and Beijing will hold its 10% levy on US goods. Oil prices rose following the announcement of this extension, as it eased investor concerns that higher tariffs on China would weigh on the economy and demand for fuel. Brent crude (BZ=F) futures climbed 0.2% to $65.84 per barrel at the time of writing, while West Texas Intermediate futures (CL=F) gained 0.2% to $64.10 a barrel. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: How to contribute to a loved one's pension Pensions are an incredibly tax efficient way of saving for our future. We know that regular contributions, the tax relief boost and long-term investment performance can supercharge your planning. However, what many people don't realise is that you can also take steps to boost other people's retirements as well. In a recent survey by Hargreaves Lansdown, only about a third of people knew you could contribute to a loved one's pension. Higher earners tended to be much more aware, with well over three-quarters of additional rate taxpayers saying they knew about the rule. This compares with 61% of higher rate taxpayers and 29% of those paying basic rate tax. According to the rules, you can pay up to £2,880 per year into the self-invested personal pension (SIPP) of a non-working spouse. Even though they are not working, so not paying tax, they will still get a tax relief top-up from government, taking it up to £3,600. It's a powerful way to improve the retirement planning of a loved one who is taking time out of the workforce to care for children or other loved ones and can go a long way towards closing the gender pension gap that continues to yawn widely. You can also make payments to your partner's pension even if they are working, as long as total contributions do not exceed their annual allowance. It's a great way to make the most of any spare cash you have if you have made the most of your own pension allowances. The rule can be expanded even further than that of a spouse or partner. You can also contribute to the pension of a child through a junior SIPP and get their retirement planning off to a flying start. As with a non-working spouse, you can contribute up to £2,880 per year to a junior SIPP and they will receive the government tax relief top up to £3,600. Read more here Pensions are an incredibly tax efficient way of saving for our future. We know that regular contributions, the tax relief boost and long-term investment performance can supercharge your planning. However, what many people don't realise is that you can also take steps to boost other people's retirements as well. In a recent survey by Hargreaves Lansdown, only about a third of people knew you could contribute to a loved one's pension. Higher earners tended to be much more aware, with well over three-quarters of additional rate taxpayers saying they knew about the rule. This compares with 61% of higher rate taxpayers and 29% of those paying basic rate tax. According to the rules, you can pay up to £2,880 per year into the self-invested personal pension (SIPP) of a non-working spouse. Even though they are not working, so not paying tax, they will still get a tax relief top-up from government, taking it up to £3,600. It's a powerful way to improve the retirement planning of a loved one who is taking time out of the workforce to care for children or other loved ones and can go a long way towards closing the gender pension gap that continues to yawn widely. You can also make payments to your partner's pension even if they are working, as long as total contributions do not exceed their annual allowance. It's a great way to make the most of any spare cash you have if you have made the most of your own pension allowances. The rule can be expanded even further than that of a spouse or partner. You can also contribute to the pension of a child through a junior SIPP and get their retirement planning off to a flying start. As with a non-working spouse, you can contribute up to £2,880 per year to a junior SIPP and they will receive the government tax relief top up to £3,600. Read more here Bellway produces modest growth as it awaits planning reform impact Bellway's full year trading statement revealed that the company is doing well in terms of revenue growth, but a little flat elsewhere. The company's completions were 8,749 for the year, up 14% compared to last year, and the average sale price was £316k, up 2.6%. Both figures are ahead of guidance, and combining to generate a revenue uplift of 17% the previous year. However, the company is coming off a particularly low base in 2024 – despite growing almost 12% in the year, the reservation rate per outlet was just 0.57x, and 0.62x in the six months to the end July. That number is low compared to history and peers; for comparison, Taylor Wimpey announced an equivalent sales rate of 0.79x recently for a similar time period. Oli Creasey, head of property research at Quilter Cheviot, said: Bellway's full year trading statement revealed that the company is doing well in terms of revenue growth, but a little flat elsewhere. The company's completions were 8,749 for the year, up 14% compared to last year, and the average sale price was £316k, up 2.6%. Both figures are ahead of guidance, and combining to generate a revenue uplift of 17% the previous year. However, the company is coming off a particularly low base in 2024 – despite growing almost 12% in the year, the reservation rate per outlet was just 0.57x, and 0.62x in the six months to the end July. That number is low compared to history and peers; for comparison, Taylor Wimpey announced an equivalent sales rate of 0.79x recently for a similar time period. Oli Creasey, head of property research at Quilter Cheviot, said: Borrowing costs rise after jobs data The cost of government borrowing has risen today as the latest ONS jobs figures delivered a blow to hopes for interest rate cuts. The yield on 10-year UK gilts, a benchmark for the cost of servicing the national debt, climbed four basis points to 4.61%, well ahead of rises in Europe and the US. It comes as yields on bond markets tend to rise when there are expectations that interest rates will remain higher. Elliott Jordan-Doak, senior UK economist at Pantheon Macroeconomics, said: The cost of government borrowing has risen today as the latest ONS jobs figures delivered a blow to hopes for interest rate cuts. The yield on 10-year UK gilts, a benchmark for the cost of servicing the national debt, climbed four basis points to 4.61%, well ahead of rises in Europe and the US. It comes as yields on bond markets tend to rise when there are expectations that interest rates will remain higher. Elliott Jordan-Doak, senior UK economist at Pantheon Macroeconomics, said: Entain boosted by online betting surge Coral and Ladbrokes owner Entain has revealed a surge in online gaming as popular sporting events such as Wimbledon and the men's football Club World Cup reeled in punters. The sports betting giant reported total net gaming revenues – the amount of money the company pockets after paying out winnings to customers – of £2.6 billion for the first six months of the year, excluding its operations in the US. The increase jumped to 8% in the UK and Ireland, the company's biggest market, while online sales in the region surged by a fifth year-on-year. Both the volume of players and the value of sales increased, which Entain said reflected an improved experience for customers as well as previous changes to gambling rules starting to level out. The company had previously warned about the impact from regulatory changes in the UK which were designed to make betting safer for consumers. The FIFA Club World Cup final, which saw Chelsea beat PSG, was the most bet-on football match of 2025 for Entain's brands, with strong engagement coming from Brazil, Spain and the US. Interest in horse racing surged with the Royal Ascot and the Epsom Derby Festival both among the most bet-on competitions, while Wimbledon Tennis and the Women's Euro football tournament were also drawing in bets. Entain nonetheless reported a pre-tax loss of £96 million for the first half, swinging from a £13.7 million profit the prior year which the firm said was driven by one-off costs. On an underlying basis, earnings before tax, interest and other costs came in at £583.4 million for the period – 11% higher than last year. The company said it was now expecting higher sales growth for the year than its previous outlook, with online net gaming revenues forecast to rise by 7%. Annual underlying earnings are estimated to be between £1.1 billion and £1.15 billion. Coral and Ladbrokes owner Entain has revealed a surge in online gaming as popular sporting events such as Wimbledon and the men's football Club World Cup reeled in punters. The sports betting giant reported total net gaming revenues – the amount of money the company pockets after paying out winnings to customers – of £2.6 billion for the first six months of the year, excluding its operations in the US. The increase jumped to 8% in the UK and Ireland, the company's biggest market, while online sales in the region surged by a fifth year-on-year. Both the volume of players and the value of sales increased, which Entain said reflected an improved experience for customers as well as previous changes to gambling rules starting to level out. The company had previously warned about the impact from regulatory changes in the UK which were designed to make betting safer for consumers. The FIFA Club World Cup final, which saw Chelsea beat PSG, was the most bet-on football match of 2025 for Entain's brands, with strong engagement coming from Brazil, Spain and the US. Interest in horse racing surged with the Royal Ascot and the Epsom Derby Festival both among the most bet-on competitions, while Wimbledon Tennis and the Women's Euro football tournament were also drawing in bets. Entain nonetheless reported a pre-tax loss of £96 million for the first half, swinging from a £13.7 million profit the prior year which the firm said was driven by one-off costs. On an underlying basis, earnings before tax, interest and other costs came in at £583.4 million for the period – 11% higher than last year. The company said it was now expecting higher sales growth for the year than its previous outlook, with online net gaming revenues forecast to rise by 7%. Annual underlying earnings are estimated to be between £1.1 billion and £1.15 billion. Where did wages rise and fall? Today's ONS data shows that the wholesale, retail, hotels and restaurants sector posted the strongest annual regular growth rate (excluding bonuses), at 6.8%, in the April to June period. The finance and business services sector, which pay out more bonuses, had the lowest annual regular growth rate, at 3.1%. Average annual pay growth was 5.7% for the public sector, and 4.8% for the private sector. Yael Selfin, chief economist at KPMG UK, said the labour market outlook 'is uncertain' days after the Bank of England cut rates to 4pc but indicated it was becoming cautious about cutting rates further. He said: 'Slow to abate wage pressures may warrant caution from the Bank of England before cutting rates further. 'We anticipate unemployment to continue to trend upwards and improved labour supply to contribute to easing pay pressures throughout the remainder of 2025.' Today's ONS data shows that the wholesale, retail, hotels and restaurants sector posted the strongest annual regular growth rate (excluding bonuses), at 6.8%, in the April to June period. The finance and business services sector, which pay out more bonuses, had the lowest annual regular growth rate, at 3.1%. Average annual pay growth was 5.7% for the public sector, and 4.8% for the private sector. Yael Selfin, chief economist at KPMG UK, said the labour market outlook 'is uncertain' days after the Bank of England cut rates to 4pc but indicated it was becoming cautious about cutting rates further. He said: 'Slow to abate wage pressures may warrant caution from the Bank of England before cutting rates further. 'We anticipate unemployment to continue to trend upwards and improved labour supply to contribute to easing pay pressures throughout the remainder of 2025.' US and China extend 90-day tariff truce The US and China have extended their truce on trade tariffs for another 90 days. Trump had threatened tariffs on Chinese goods imports of up to 145% while Chinese duties on US goods were set to hit 125%. The rates for both countries were scaled back after a round of trade talks held in Geneva in May and the tariff pause was set to expire today at 12:01am EDT. The extension will now last until November and is a welcomed move by US retailers and consumers who can buy electronics at lower tariff rates ahead of Christmas. Donald Trump posted on his Truth Social platform that he signed the executive order for the extension, and that 'all other elements of the Agreement will remain the same'. Beijing's Commerce Ministry announced the extension of the tariff pause early on Tuesday. Trump's executive order stated: Meanwhile, a spokesperson for the Chinese embassy in Washington said: "Win-win cooperation between China and the United States is the right path; suppression and containment will lead nowhere." The US and China have extended their truce on trade tariffs for another 90 days. Trump had threatened tariffs on Chinese goods imports of up to 145% while Chinese duties on US goods were set to hit 125%. The rates for both countries were scaled back after a round of trade talks held in Geneva in May and the tariff pause was set to expire today at 12:01am EDT. The extension will now last until November and is a welcomed move by US retailers and consumers who can buy electronics at lower tariff rates ahead of Christmas. Donald Trump posted on his Truth Social platform that he signed the executive order for the extension, and that 'all other elements of the Agreement will remain the same'. Beijing's Commerce Ministry announced the extension of the tariff pause early on Tuesday. Trump's executive order stated: Meanwhile, a spokesperson for the Chinese embassy in Washington said: "Win-win cooperation between China and the United States is the right path; suppression and containment will lead nowhere." UK job market continues to weaken as vacancies fall The number of job vacancies and payrolled employees in the UK have continued to fall, according to the Office for National Statistics (ONS), adding to evidence of a cooling labour market. Data released on Tuesday showed that the number of job vacancies in the UK fell by 44,000 in the three months to July. The ONS said that this marked the 37th consecutive period where vacancy numbers have dropped compared to the previous three months and that vacancies had fallen in 16 of the 18 industry sectors. The ONS said feedback from its vacancy survey suggested some firms may not be recruiting new workers, or replacing workers who have left. The number of employees on the payroll in June was down by 26,000 on the month, which was more than a decline of 25,000 in May, but was smaller than a previously estimated fall of 41,000. Estimates for payrolled employees in the year to June fell by 149,000. Early estimates for the number of employees on the payroll in July fell by 8,000 on the month and 164,000 on the year. The unemployment rate was 4.7% from April to June, unchanged from the previous three months. Annual wage growth excluding bonuses was at 5% in April to June, which was also the same as the previous three months. Employers have faced higher labour costs after the rate of their national insurance contributions and the national minimum wage rose in early April, which were changes announced by chancellor Rachel Reeves in the autumn budget. Read more here The number of job vacancies and payrolled employees in the UK have continued to fall, according to the Office for National Statistics (ONS), adding to evidence of a cooling labour market. Data released on Tuesday showed that the number of job vacancies in the UK fell by 44,000 in the three months to July. The ONS said that this marked the 37th consecutive period where vacancy numbers have dropped compared to the previous three months and that vacancies had fallen in 16 of the 18 industry sectors. The ONS said feedback from its vacancy survey suggested some firms may not be recruiting new workers, or replacing workers who have left. The number of employees on the payroll in June was down by 26,000 on the month, which was more than a decline of 25,000 in May, but was smaller than a previously estimated fall of 41,000. Estimates for payrolled employees in the year to June fell by 149,000. Early estimates for the number of employees on the payroll in July fell by 8,000 on the month and 164,000 on the year. The unemployment rate was 4.7% from April to June, unchanged from the previous three months. Annual wage growth excluding bonuses was at 5% in April to June, which was also the same as the previous three months. Employers have faced higher labour costs after the rate of their national insurance contributions and the national minimum wage rose in early April, which were changes announced by chancellor Rachel Reeves in the autumn budget. Read more here Asia and US overnight Stocks in Asia were higher overnight, with the Japanese Nikkei (^N225) surging 2.2% on the day to a record high after the US and China extended their tariff truce. The Hang Seng (^HSI) rose 0.4% in Hong Kong. The Shanghai Composite ( was 0.5% up by the end of the session. The extension of a tariff truce between the world's two largest economies by another 90 days buoyed sentiment across Asia as it staved off triple-digit duties on Chinese exports to the United States. In South Korea, the Kospi (^KS11) lost 0.5% on the day. Meanwhile, Australian shares slightly extended gains while the currency was choppy after the Reserve Bank of Australia expectedly cut its main cash rate by a quarter point to a two-year low of 3.6%. Across the pond on Wall Street, the S&P 500 (^GSPC) dipped 0.25%, and the tech-heavy Nasdaq (^IXIC) was 0.3% down. The Dow Jones (^DJI) also slipped 0.5%, pulled down by energy, property and technology stocks. In the bond market, the yield on benchmark 10-year US Treasury notes edged up to 4.289% from 4.286% on Sunday. Stocks in Asia were higher overnight, with the Japanese Nikkei (^N225) surging 2.2% on the day to a record high after the US and China extended their tariff truce. The Hang Seng (^HSI) rose 0.4% in Hong Kong. The Shanghai Composite ( was 0.5% up by the end of the session. The extension of a tariff truce between the world's two largest economies by another 90 days buoyed sentiment across Asia as it staved off triple-digit duties on Chinese exports to the United States. In South Korea, the Kospi (^KS11) lost 0.5% on the day. Meanwhile, Australian shares slightly extended gains while the currency was choppy after the Reserve Bank of Australia expectedly cut its main cash rate by a quarter point to a two-year low of 3.6%. Across the pond on Wall Street, the S&P 500 (^GSPC) dipped 0.25%, and the tech-heavy Nasdaq (^IXIC) was 0.3% down. The Dow Jones (^DJI) also slipped 0.5%, pulled down by energy, property and technology stocks. In the bond market, the yield on benchmark 10-year US Treasury notes edged up to 4.289% from 4.286% on Sunday. Coming up Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead, in addition to the US July CPI report we will also get data on NFIB small business optimism, federal budget balance, UK June average weekly earnings, unemployment rate, July jobless claims change, Germany's August Zew survey and June's current account balance, the Eurozone's August Zew survey, and Canada's June building permits. Central bank speakers include Fed's Barkin. Lastly, notable earnings include CoreWeave and Circle Internet Group. Here's a snapshot of what's on the agenda: 7am: Trading updates: Bellway, Page Group, Derwent London, Entain, Spirax and Xaar, and S&U 10am: Germany/Eurozone ZEW economic survey 1.30pm: US inflation for July Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead, in addition to the US July CPI report we will also get data on NFIB small business optimism, federal budget balance, UK June average weekly earnings, unemployment rate, July jobless claims change, Germany's August Zew survey and June's current account balance, the Eurozone's August Zew survey, and Canada's June building permits. Central bank speakers include Fed's Barkin. Lastly, notable earnings include CoreWeave and Circle Internet Group. Here's a snapshot of what's on the agenda: 7am: Trading updates: Bellway, Page Group, Derwent London, Entain, Spirax and Xaar, and S&U 10am: Germany/Eurozone ZEW economic survey 1.30pm: US inflation for July 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