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    NRF expects ‘slower trajectory for consumer spending’ in 2025 as tariffs fuel uncertainty, inflation fears

    NRF expects ‘slower trajectory for consumer spending’ in 2025 as tariffs fuel uncertainty, inflation fears

    Sarah Wells, founder and CEO of a company selling bags and apparel for new mothers, said during the event that the uncertainty spurred by tariffs represents “the biggest challenge that my small business faces this year.”