Statements by Attorney Margaret Ramírez Báez, President of the Puerto Rico Chamber of Commerce, on the Annual Holiday Shopping Study “SANTA’S LIST 2025,” conducted by the advertising agency Arteaga & Arteaga

The perception of both consumers and business owners, in light of the current economic situation in Puerto Rico, is shaped by multiple realities and lived experiences—rooted in both recent memory and present-day challenges.
From the tariffs imposed by U.S. President Donald J. Trump, which have increased the cost of imported goods—and consequently, the final price for consumers—to the rise in operational expenses, such as electricity costs, as we witnessed in September with the implementation of the new provisional rate and the inclusion of pension charges in utility bills; coupled with the steady decline in the value of money due to inflation and the heavy tax burden affecting Puerto Rico, which further erodes purchasing power—it is no surprise that this holiday season brings both consumers and merchants a bitter taste that dampens even their strongest desire to celebrate.

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