The European Union has published an 11-page list, and it includes which products originating from the United States might get import tariffs.
There isn’t just a tariff war lingering between the United States and China, but there could also be one between the US and the European Union, over on subsidies given to Boeing and Airbus. Boeing is the American company, and Airbus is the European one. Let’s not go into detail here – in short, the United States has listed which products could face tariffs (to gain eleven billion dollars out of it), and the EU has responded by the list which was linked a paragraph above. The affected products could include ketchup, handbags, and… the gaming consoles.
The European Union hopes that the price increase would be distributed amongst the imported items, meaning the prices would not be jacked by a lot. However, there would still be a price increase for the PlayStation 4, the Xbox One, and the Nintendo Switch. If the EU and the USA initiate the tariff war, the next-gen consoles could also be affected.
The problem is that our native country, Hungary, already has increased console prices (mostly „thanks” to the 27% value-added tax or VAT for short), which are not in balance with the wages whatsoever. For example, a PlayStation 4 Pro with no games costs ~437 euros converted in a country-wide games store. The recommended price in the EU is 400 euros. Do you see where this is going?
We’ll have to see how the price increase will affect the EU if the trade war starts happening between them and the US.
Source: The Guardian