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Sony warned the American Government that the prices for their consoles will go higher if the Trump administration goes ahead with higher tariffs on more Chinese exports, which will hurt consumers.
“We believe, and therefore have told the U.S. government, that higher tariffs would ultimately damage the U.S. economy,” Sony finance chief Hiroki Totoki said Tuesday.
Totoki added that they are studying their options to deal with the higher tariffs, and possibly the consumer will have to bear part of the burden.
Sony has also stated that the new generation console will be released in 2020. The new console will include new technologies that will increase its price even without the tariffs.
Sony, Microsoft, and Nintendo issued a statement to the Trade Representative’s Office last month against the proposed tariffs. The letter stated that the tariffs would impact their business negatively, along with American consumers and small business would be affected greatly, consumers would have about $840 million in costs shifted to them, and 200,000 American jobs would be at risk.
Nintendo started moving its production from China to Southeast Asia, in preparation for the new tariffs, while Microsoft and Sony haven’t made a move yet.