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How Trump's Tariffs Could Cost Gamers Billions
- The proposed new tariffs could harm the video game industry and cost gamers billions of dollars.
- In 2019, Trump was delayed in implementing tariffs on popular consumer devices such as laptops and video game consoles.
- The new proposed tariffs include a 60% import tax on anything assembled in China, and a 10-20% tax on anything made outside the United States.
- 40% of the costs of tariffs will be passed onto consumers for gaming consoles and related products, according to the Consumer Technology Association (CTA).
- Gaming consoles such as the Nintendo Switch, Xbox, and PlayStation would see significant increases in price due to the proposed tariffs.
- Higher hardware costs could cause players to move towards cloud gaming and other accessibilities.
- Physical games could end faster as players prefer tariff-exempt digital downloads and cheaper, digital-only versions of the existing PlayStation and Xbox consoles.
- The tariffs could harm the video game industry, including publishers, game studios, and related businesses.
- Some experts suggest that companies should increase imports and shift manufacturing capacity to other countries like India.
- Historically, Trump has been known to back off major tariffs in exchange for minor trading concessions from other countries.
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