Economists claim game console prices will double from Trump tariffs

Following President-elect Donald J. Trump’s proposed tariffs, the Consumer Technology Association published a report highlighting potential price increases for gaming consoles, smartphones, laptops, and tablets.

The report suggests that gaming console prices could surge by up to 40%, with smartphones seeing a 26% increase and laptops/tablets facing a potential 46% hike. These projections are based on Trump’s proposed tariffs on imports from countries other than China, including a 60% to 100% tariff on all Chinese imports, which would also apply to digital goods.

The impact on gaming consoles is significant due to the high percentage of imported video game and audio electronic equipment sold in the U.S. market. Similarly, a large portion of computers and electric appliances are imported from China or Taiwan, making them susceptible to price hikes under the proposed tariffs.

While experts are skeptical about the likelihood of these tariffs being implemented, the changing composition of Trump’s economic advisers raises some uncertainty. Past tariff actions by President Trump have been more targeted, with a blanket tariff on all Chinese products seeming less probable in the past.

It remains to be seen whether these proposed tariffs will come to fruition, as the new composition of Trump’s administration may influence his decision-making process. Until then, the potential impact on consumer prices for electronic goods remains a topic of interest and concern.