As the political landscape heats up ahead of the upcoming U.S. elections, PS5 Pro wanters might want to pay attention to more than just the latest game releases or the Pro-enhanced titles. With the potential return of Former President Donald Trump to the White House with his proposal to impose tariffs on imports, implications for the price of beloved gaming consoles are looking dire.
According to a recent analysis from the Consumer Technology Association (CTA) on Trump’s proposed tariffs on imports, it has all the potential to send the prices of various hardware (including consoles, laptops, and even smartphones) to skyrocket at an alarming rate, making gaming less accessible for millions of players.
Trump has indicated that if he is elected, he will impose steep tariffs on imports, particularly from China. His proposals suggest a 60% tariff on nearly all Chinese goods and additional baseline tariffs on other imports. Even though this promotes more production inside the country, it also has various drastic effects, particularly on the retail prices of gaming consoles.
The Consumer Technology Association (CTA) estimates that under the proposed conditions, the price of a PS5 Pro could see an increase of nearly $250, essentially placing it out of reach for many gamers. The PS5 Pro is already considered overpriced by most, with an initial price tag of $700. If these proposed tariffs actually come into play, gamers could find themselves facing an even steeper price.
CTA’s chief, Gary Shapiro even explained in the report that the proposed tariffs are unlikely to create significant new jobs in the U.S. Instead, they may lead to increased costs for consumers and a shrinking economy. For gamers, the cost of entering a high-quality gaming experience will increase even further.
Most gaming consoles, including the PS5, are assembled in China, but their components come from around the globe. So, if tariffs push manufacturers to relocate production from China, it won’t directly result in increased jobs in the U.S.
As predicted by CTA, many companies would instead shift their operations to some other countries, leaving American consumers to pay higher prices for consoles like the PS5 Pro without getting the benefits of domestic job creation. This scenario looks grim for American consumers in almost every way possible.
The CTA’s warning should serve as a reminder for all gamers. The gaming industry, valued at over $24 billion in the U.S. alone, will be facing severe disturbance if the proposed tariff is imposed. With the increase in console prices, gamers might find themselves unable to afford the latest consoles and games.
This will limit their access to all the new cutting-edge technology and experiences they would have enjoyed previously. As economist Mark Perry’s graph shows, free trade has played a vital role in making technology more affordable and accessible.
The prices of televisions and other electronics have not climbed with the inflation over the past two decades. However, the proposed increased tariffs threaten to reverse these gains significantly, putting the joy of gaming further out of reach for many.
In the end, this report is based on the proposed import tariffs if Trump wins. So, as the election approaches, gamers should also stay informed about how political decisions could impact their hobby.
Do you think these proposed tariffs will be implemented if Trump wins? Tell us in the comment section below.
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