Specific financial impacts included Chinese-made lights almost tripling in price and potential customs backlogs for decorative stars from India, which accounted for a fifth of the festival's budget.
Cuts to arts grants also contributed to the financial difficulties that led to the event's demise.
Jeanne Fleming, the creator and coordinator of Sinterklaas Rhinebeck, expressed profound sadness at the cancellation and thanked the hundreds of artists and thousands of volunteers for their dedication over 25 years.