Current U.S. President Donald J. Trump back in June shared his proposal which would inflict a tariff on imports from China by 25%: this including current and upcoming hardware from video game console giants Nintendo, Sony, and even Microsoft. The three companies in response to the tariff drafted a letter in an attempt to prolong the tariff taking effect and possibly even influence rewriting the proposal entirely.
However, the tariff still went according to plans and is scheduled to go live next month. Sony just last month shared that the company is resulting to be increasing the price of its products when the tariff is finalized at the end of the Summer. But now according to a recent report, President Trump has decided to delay the tariff until the December.
According to the Washington Post, the President has announced to be pushing the deadline of the tariff to December 15th, adding four more months that the tariff was originally planned to go into effect for the first day of September. The news outlet discloses that Trumps reasoning for the delay was to halt the price hike on products for those shopping this holiday season.
“What we’ve done is we’ve delayed it so they won’t be relevant in the Christmas shopping season. Just in case they might have an impact on people.”
For the case of electronics that would be affected, including video game consoles, cell phones, and laptops: the respected items will be waived from the tariff. But other items like food products and certain clothing will expect an increase in price coming this September. Looking at this coming holiday, those who plan to purchase any technology should prepare to do so before reaching the deadline halfway through December.
Although the initially proposed 25% has been reduced to 10%, this will still leave a hefty increase in product pricing as we will witness in the coming months.
Source: Washington Post