In his attempt to go after the Chinese bogeyman, United States President Donald Trump has announced plans to extend tariffs on electronic goods manufactured in China, and imported into the US. These tariffs could be anywhere from 10%-25%, and given the fact that just about every notable electronic product, from your laptop to iPad to iPhone, gets manufactured in China, could see prices being raised across the board if the companies decide to pass on the cost to customers.
You know what else is an electronic product made in China but sold in the US? Your game console. No, it doesn’t matter what console it is—whether it’s a PlayStation, or an Xbox, or a Switch, they’re all made in China. If Trump decides to go through with enacting this policy, then the price of those consoles could rise by as much as 25%, before tax. Say hello to a $375 PS4, Xbox One, or Switch.
“The only deal would be [that] China has to open up their country to competition from the US. If we don’t make a deal, then I’m going to put the$267 billion additional (tariffs) on,” Trump said to the Wall Street Journal, speaking about the planned tariffs.
For now, let’s hope that, as is the case with a lot of what Trump says, this is all talk with no action.