Trump: The Increase in Import Taxes Could Raise Console Prices

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Trump: The Increase in Import Taxes Could Raise Console Prices

As you well know by now, these days we are not talking about anything other than the commercial war between the United States and China, which is creating many problems for electronics giants like Huawei.

However, it appears that companies that deal with video game hardware like Microsoft, Sony and Nintendo may also be affected by the increase in taxes on import goods in the future. The three giants of the gaming industry in fact produce their own consoles in China and, if the measure requested by Donald Trump were to be approved, a 25% import tax will be applied instead of the current one, equal to 10%.

Such a situation could not help but force the big names in question to increase the prices of the hardware (so we speak not only of gaming consoles but also of accessories like the PlayStation VR or the various controllers), thus creating many problems for gamers around the world. It is also not to be excluded that all this could have an impact on the launch price of the highly anticipated PlayStation 5 and Xbox Scarlet, expected in the market during 2020.

The Entertainment Software Association also expressed its opinion on the possible tax increase:

“The video game industry already has a trade surplus for the US economy. These taxes will only cause damage to the US economy, its industries, and consumers.”

There is nothing left for us to do but cross our fingers and wait for the next 17 June 2019, the date on which we could discover the outcome of this request. Should there also be an approval, the tax increase will take effect starting from June 24, 2019.