Nintendo Switch 2 price rises: Major brands that announce price increases from technology to fashion thanks to new Trump tariffs: Here’s what you’re spending more
With nearly all imports exerting a comprehensive 10% responsibility, excluding key sectors such as semiconductors and medicines, businesses are recalibrating operations to browse the new trade landscape.
President Donald Trump’s extensive tariff policy, known as the “liberation day” measure, also includes closing “minimum” loopholes, a move that is of great significance to low-cost imports, especially from China.
E-commerce platforms support the impact
Shein and Temu, two major e-commerce retailers based in China, issued the same statement earlier this month announcing prices on its platform will begin April 25, according to a report by ABC News.
“Our operating expenses have increased due to the latest changes in global trade rules and tariffs,” the companies said.
“To continue to deliver products you like without compromising quality, we will make a price adjustment.” The termination of the De Minimis rule, which previously allowed duty-free entry of goods worth $800 under $800, is expected to dramatically change the pricing strategies of budget-conscious retailers.
Although some consumer electronic devices are granted exemptions (such as smartphones and laptops), Video Game Consoles is clearly not present on this list.
Japanese gaming giant Nintendo confirmed this week that accessories for the upcoming Switch 2 console will be priced higher than previously announced.
“There are additional adjustments to the price of any Nintendo product in the future based on market conditions,” the company quoted in an ABC News report.
Retail chain Best Buy responded to these views. Chief Executive Corie Barry warned investors in March that tariffs would inevitably lead to price increases, especially with China and Mexico being one of the company’s top suppliers.
Luxury brands respond with targeted growth
The French high-end fashion house Hermès will be implemented on May 1st with only US prices.
As mentioned in the ABC News, Eric du Halgouët, executive vice president of the Treasury Department, said: “The price increase we are going to implement only applies to the United States because it is designed to offset tariffs that only apply to the U.S. market.”
Trump temporarily suspended a 20% tax on EU imports, but the 10% blanket tariff remains in effect, prompting Hermes to “completely offset” costs by adjusting pricing.
Automotive sector feels stressed
Autozone, the Memphis-based auto parts chain and luxury automaker Ferrari is also revising its price structure.
Autozone CEO Philip Daniele previously confirmed that tariff-related fees will be passed directly to consumers. Although the company has not provided updated details, it is expected to follow as prices rise in the coming weeks.
Meanwhile, Ferrari did not waste any time responding to the 25% auto tariff proposed by the Trump administration last month. The Italian automaker announced that on some models, it will be adjusted immediately up to 10%.
A broader economic chain reaction
Economists broadly agree that Trump’s tariffs could cost more to U.S. consumers in multiple sectors, especially when companies shift the burden of new taxes to the end buyer.
With cumulative tariffs on Chinese imports now reaching 145% and widespread tariffs affecting supply chains worldwide, analysts expect further announcements from other multinationals within the weeks following the April 25 implementation window.
FAQ
Why are so many brands raising prices in the United States now?
Many global companies are adjusting prices to deal with President Donald Trump’s new tariff policies, including most imported blanket tariffs. This increases the cost of the business, causing them to pass on the increased expenses to consumers.
What is the tariff policy for “Liberation Day”?
The “Liberation Day” measures refer to President Trump’s comprehensive trade policy, which imposes 10% of the responsibility on almost all imports, with some exceptions, such as semiconductors and medicines. It also includes closing the “minimum” vulnerability that allows low-cost imports ($800) to enter the U.S. tax-free.
