Trump tariffs will make video game consoles up to 40% more expensive
Trump tariffs will make video game consoles up to 40% more expensive
metro.co.uk
Trump tariffs will make video game consoles up to 40% more expensive
148 comments
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From this article
But in the case of the hefty tariffs that Trump put on China during his first term, economic studies found that most of those costs were passed on to American consumers.
Economists believe this could happen again. One study by the Peterson Institute for International Economics, for example, calculated that Trump’s current tariff plans would increase costs for a typical American household by $2,600 a year.
Paying more for everything to own the libs! 🤡
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Cant buy vidya console, got more money for eggs?
5D chess here people!
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How someone can expect anything else to happen is beyond me.
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These tariffs create American jobs and long term boosts American skills and manufacturing abilities.
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I'm not sure it's a safe bet. Only if the tariffs last longer than 4 years. Building new factories takes a couple years, then you need to break even all within 4 years? Just seems risky to me
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Except they don't. They just move them to other countries like Vietnam.
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Unlikely. In the age of globalism, it's much more likely that manufacturing will leave the US to dodge counter-tariffs. The combined markets of Europe and Asia is for most products larger than the US market, and that trend is only likely to increase in the future as Asia develops. Manufacturers know making stuff in Asia is just cheaper, and that American consumers are more likely to go into debt to buy stuff than other consumers. They also know that these tariffs are unlikely to last for long, because if the US takes the expected economic hit here then it becomes less likely that Trump/the GOP remains in control (eg midterms flip control back to the democrats).
Not much reason to move factories to the US, which is wildly expensive, when taking the hit and waiting it out is ultimately most likely cheaper.
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That's not the main point where you can assist that. Patent law would be the main point.
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It's just a stupid way of doing it. Companies should be getting other incentives to bring manufacturing home. The middle and lower class shouldn't burn for that to happen.
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And fridges, washers, dryers, tvs, vacuums, cars, phones.
Basically anything that has a microcontroller you're going to be fucked.
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In this day and age, pretty much anything powered by electricity.
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I'm actually really excited about the smuggling opportunities such a high tariff presents. It's a real job creator. It's been a long time since we've had major smuggling operations on the great lakes. Will be a big boom for Chicago too, since that's the point where the smuggled goods get put on trains. Maybe even get the outfit back together.
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Al Capone watching his successors continue his legacy by smuggling PS5s and pirating games lol
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Maybe we can have speakeasy arcades run by nerds with 3D printed tommy guns.
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I thought Republicans were the anti-tax party?
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I think the "logic" is that if things are too expensive to import then companies will start manufacturing them domestically and create jobs. But that almost never works out. An economist could probably explain why better than I can.
I do know that the better approach is to support those industries here. That's why we recently dumped a bunch of money into the CHIPS and Science act.
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I am actually in favor of tariffs in a couple of limited situations:
- Foreign goods are cheap due to non-existent labor laws
- Foreign goods are cheap, but produce more emissions than domestic manufacturing
2 is also called a carbon border adjustment mechanism, or CBAM, and the EU voted to implement one last year that goes into effect in 2026. The USA desperately needs one IMHO. I'm involved in a nonprofit that's been lobbying Congress to implement our own CBAM.
It's silly though to think that a tariff is anything but a tax. It's not any different than any other way that we use our tax laws to try to regulate "pure" capitalism by encouraging certain behavior and discouraging other behavior.
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It's not taxes, it's tariffs! Duh.
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It's okay if the taxes are only being paid by foreign companies. They.... they are, right?
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Much like the grifters that they are, the Republican party does not have any convictions.
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No less than The Economist uses the BMI ("Big Mac Index") to compare economies.
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I like how this has "Murrkans dumb" vibes, but this picture is intellectually far better than what average Russian thinks about economy.
That said, 6+ bigmacs for an hour of minimum wage sounds very good. Actually it sounds like some heaven on earth.
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'Heaven is a place in Earth' was, in fact, released in 1987 by Belinda Carlisle.
Fueled by cheap Big Mac's, no doubt, though the song neglects to mention them.
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People did warn folks about this.
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look closer at everything you own. 99.9% of it will be 40% more expensive if you have to buy it again
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Hypothetically, if I want to buy the Samsung S25 next year, and Tariffs are in place in America. I live in the UK. Why would my purchase be 40% more expensive? Samsung uses their own nodes, own fabs to manufacture their chips in south korea, they assemble the phones in Vietnam, after which they get shipped to the UK. Why would American tariffs affect literally everything as you have just said?
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Good work Gamers. Your hardware will be more expensive, but at least Biden won't be suggesting a non-enforceable DEI directive at the HR of those game studios.
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Apparently Google searches for "what is a tariff" skyrocketed after Trump won
Also "can I change my vote"
There are already quite a few regrets it seems, and the right wing are gonna learn how tariffs actually work real soon
I'm guessing the money they raise will also be used to help fund tax cuts for high income
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I never use Google, so this is from a blank slate search. The top result for "can i c" is "can I change my vote?" Also the top 2 results for "what is" by itself are: "what is the 4b movement" and "what is a tariff". Here come the leopards.
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They'll also be an excuse for more layoffs.
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And lower wages.
Kamala ("or Kamabla" as the adult children like to call her", because that's normal for a president to make jokes about names) was also going to increase the minimum wage
So, those underpaid children are going to get hit by tariffs and not get a wage increase
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Good, gaming is for chud man children and incels.
Turns on Switch and looks at latest sales for jRPGs
Really nothing but anime fans lusting after booba.
Puts Unicorn Overlord in cart
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Truly proof gamers are the most oppressed group :c
/s
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He’s surpassed Bob Barker in Orange competition next coat he’s basically in black face
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And china will be doing the same for all Americans product enter to they country.
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YO HO HO AND A CACHE OF TORRENTS!
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GAMERS RISE UP
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Best news ever says dude still rocking the X-box 360 and happy about that.
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At least prison business is booming when no one can afford to live even if they get paid. Land of the Free!
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Bbbbut I wuz told China would pay for the wall! And my new Playstation!
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Another good reason to have a home grown solution in your own country for game consoles outwith the US.
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Nobody will step up, because manufacturing electronics like this is incredibly expensive, and any new president in 2028 could instantly drop Trump's dumb ass tariffs.
So you'd be going into an expensive, already risky business, with an even bigger risk that one day the competition suddenly drops their prices by ~40% due to a drop in tariffs. Nobody's gonna take that risk.
And even if somebody successfully did take on that risk, they'd charge just under the price of the electronics that have the tariffs baked into the price, so congrats, no matter what we'd esentially be paying a ~40% markup on electronics, and that's before accounting for all the businesses that raise prices even further than the tariffs to account for the drop in demand, and supply chain halt.
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Dweebs weep.
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I think more than "dweebs" buy consoles...
Also you're on Lemmy you dweeb lol
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True. There are also parents buying them for their kids and a couple of other exceptions.
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Glad we only buy game consoles from China. Can you imagine what these tariffs would do if a significant portion of our imports came from there?
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Maybe lets wait for those tariffs to be actually imposed first before losing our minds over it.
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As a small business owner I will likely have to completely shut down if/when tariffs are imposed, so yeah, this isn't about paying more for a video game for many of us.
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Maybe lets wait for the leopards to start eating other people's faces before we do anything to stop or prevent it.
That's you.
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Sounds like a perfectly great idea /s
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Don't video game consoles all have offices in the US? Why would the US apply tariffs on companies residing in and paying tax the US?
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The products are manufactured elsewhere.
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148 comments
And laptops, and phones, and literally every other electronic thing you might want to buy
People that can still afford stuff will be so cool. The hippest tech, biggest cars and newest kicks, everything will be uber exclusive. This is good for america because reasons.
People with lifted pickup trucks can now go into even more debt, so they can flex on the "poors" (while complaining about their "economic anxiety").
Especially because every grift that trump has made, his shoes and the like, were all made internationally. Wonder who will pay for those tarrifs when he does the same?
If that is truly their plan, they are dumber than we fucking figured.
If a billionaire wants to buy a swimming pool, he needs a considerable amount of other people to be able to afford swimming pools or it it becomes impossible for him to get one at all eventually.
To have a swimming pool, there needs to be an industry of specialized labororers who can manufacture and install. There has to be electricians who specialize in mixing water and electricity. There has to be people working the factories where the chlorine gets manufactured and bottled.
This is true for every product that billionaires consume. You really gotta think that these people with all this wealth would have people on the payroll pointing this out to them.
He's fixing the economy, duh!!!
This is good. Same way forest fires can be good.
But those people thinking they'll be the elite don't quite realize how exactly.
Leopards will be the same price, though.
Faces will be cheap though, there are plenty of those to go around for the next few years
Almost everything powered by electricity will have some chinese made components.
And now do some basic Google Foo and find out what is manufactured in Taiwan. If China gets it's way, because Trump thinks Xi is cool and he's a good guy, China will just waltz in - TSMC, ASML and Trumpf have some safeguards in place as far as I know to destroy anything valuable. So while you might want to buy shit, you can't because the Cheeto and his cronies collapsed it.
That would in long term be good. I'm serious. Keeping all your eggs in one basket is bad, and other than that - said one basket may, for example, not scale production fast enough so to keep profits, that's basic supply and demand and that's what oil producers do too.
Short term, though, would be similar to a collapse of civilization.