US Trade War Hits Gamers: Sony Raises PS5 Prices Amid Global Tariff Fallout.

Sony has raised the prices of its PS5 consoles in the US due to ongoing trade tensions and tariffs imposed by the Trump administration. The price hike affects all PS5 models, with the standard console now costing $549.99 and the PS5 Pro priced at $749.99. This marks the first major US price increase for the console, with similar hikes implemented in Europe earlier this year. Economists warn that other consumer electronics may also see further price increases if trade tensions continue.

The Trump administration has significantly expanded its 50% tariffs on steel and aluminum imports by adding 407 derivative product codes to the list of goods subject to these levies. This move, effective August 18, 2025, will impact a wide range of industries and publicly traded companies, including those in the steel and aluminum sectors [1].

The Commerce Department announced the addition of these product codes in a Federal Register notice. The new tariffs will apply to goods containing steel and aluminum, with non-steel and non-aluminum content subject to the existing tariff rates imposed on goods originating from specific countries [1].

Companies such as ArcelorMittal, Cleveland-Cliffs, Nucor, Steel Dynamics, and US Steel, all of which are publicly traded and significant players in the steel industry, will be directly affected by this expansion. Similarly, aluminum producers like Alcoa and Century Aluminum will also face increased tariffs [1].

In response to these tariffs, Sony has raised the prices of its PS5 consoles in the US. The standard PS5 console now costs $549.99, while the PS5 Pro is priced at $749.99. This marks the first major US price increase for the console, with similar hikes implemented in Europe earlier this year. Economists warn that other consumer electronics may also see further price increases if trade tensions continue [2].

The impact of these tariffs on the financial markets and the broader economy remains to be seen. However, investors and financial professionals should closely monitor the developments to understand the potential implications for these companies and the industries they serve.

References:
[1] https://www.ainvest.com/news/trump-administration-expands-steel-aluminum-tariffs-derivative-products-2508/
[2] https://www.reuters.com/business/us-commerce-dept-widens-products-subject-steel-aluminum-tariffs-2025-08-15/