Thursday, February 25, 2021

Game companies warn Trump management of Chinese tariff impact on the industry

Featured

Equality policy: Global policy makers laud SBP’s effort to advance women’s financial inclusion through Banking

In December 2020, the State Bank of Pakistan launched its consultation process with different national and international stakeholders on...

Hungary – First country in the European Union to use Chinese Sinopharm vaccine

Hungary began using the Chinese company "Sinopharm" vaccine against the emerging coronavirus, becoming the first country in the European...

IMF Report: Turkey ranks first in decline of foreign exchange reserves

According to a report issued by the International Monetary Fund (IMF), Turkey ranked first in the world in 2020,...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Game companies Sony, Microsoft and Nintendo have sent a joint letter to Trump, warned the government that tariffs on Chinese goods will hurt the video game industry and its employees significantly.

- Advertisement -

Companies have argued with the US government that a 25 percent tariff increase would drive US consumers $ 840 million more for game controllers.

“While appreciating the Department’s efforts to protect intellectual property in the United States and maintain high-tech leadership in the United States, the damage caused by these tariffs to consumers and companies in the United States will lead to the destruction of their own goal, not strengthening it.” the companies said in a statement.

The game companies, with their 7-page message to the US Trade Representative’s office, warned that 96 percent of all video game consoles were set up in China last year and that restructuring the whole supply chain to avoid costs would be incredibly harmful to the sector.

The letter is the latest criticism of Trump’s tariffs, which will affect production costs for everything, especially computer game parts. Technology giants will have to choose between turning manufacturing efforts into other countries such as Taiwan or carrying the incremental costs to American consumers.

Read also: More than 600 US companies demand Trump to resolve trade dispute with China

- Advertisement -
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
- Advertisement -

Latest News

Equality policy: Global policy makers laud SBP’s effort to advance women’s financial inclusion through Banking

In December 2020, the State Bank of Pakistan launched its consultation process with different national and international stakeholders on...

Hungary – First country in the European Union to use Chinese Sinopharm vaccine

Hungary began using the Chinese company "Sinopharm" vaccine against the emerging coronavirus, becoming the first country in the European Union to take this step. Hungarian...

IMF Report: Turkey ranks first in decline of foreign exchange reserves

According to a report issued by the International Monetary Fund (IMF), Turkey ranked first in the world in 2020, in terms of a decrease...

Japan witnessing lowest birth and death rates

In a report public report: "As is the case in many countries, the restrictions ofCovid-19 have caused more women to lose their jobs ......

Brandverse and eOcean join hands to boost e-commerce, with the new Chikoo platform

Brandverse and eOcean today announced that they have signed a MoU to work together to maximise the commercial and social impact benefits in enabling...

Related News