Microsoft, Nintendo, and Sony Beg To Save Video Game Consoles from Tariff
Quote from Ndubuisi Ekekwe on June 27, 2019, 10:28 PMThis is interesting - U.S. tariff on Chinese imports is hitting video game consoles. The makers want exemptions. This tells you that even Japan now depends on China to make most of its products because of cost competitiveness. If nothing happens, U.S. consumers will pay more by $840 million since the companies will pass the extra tariff costs to customers.
In an unprecedented display of solidarity, the world’s leading video game console manufacturers issued a statement against President Donald Trump’s proposed 25 percent tariffs on consoles manufactured in China. Microsoft, Nintendo, and Sony say that the cost will ultimately be passed on to American consumers, and that the proposal would put at risk the jobs of more than 220,000 Americans, including hundreds of small businesses.
At issue is a soon-to-be-finalized list of goods imported from China with tariffs that the Trump administration has tasked the United States trade representative with creating. If video game consoles are added to that list, they would cost the major console manufacturers 25 percent more to import virtually overnight
This is interesting - U.S. tariff on Chinese imports is hitting video game consoles. The makers want exemptions. This tells you that even Japan now depends on China to make most of its products because of cost competitiveness. If nothing happens, U.S. consumers will pay more by $840 million since the companies will pass the extra tariff costs to customers.
In an unprecedented display of solidarity, the world’s leading video game console manufacturers issued a statement against President Donald Trump’s proposed 25 percent tariffs on consoles manufactured in China. Microsoft, Nintendo, and Sony say that the cost will ultimately be passed on to American consumers, and that the proposal would put at risk the jobs of more than 220,000 Americans, including hundreds of small businesses.
At issue is a soon-to-be-finalized list of goods imported from China with tariffs that the Trump administration has tasked the United States trade representative with creating. If video game consoles are added to that list, they would cost the major console manufacturers 25 percent more to import virtually overnight