The PS5 Pro is an expensive machine at $699. Imagine a world where it costs $1,100. Those kinds of consumer electronics prices may soon become a reality thanks to incoming President Donald Trump and his proposed tariff plans.

Trump will soon be President and he believes that the tariff “is the most beautiful word in the dictionary.” As one of his first official acts, Trump is expected to impose tariffs on imports into the US and a large tariff on goods from China. Most of the electronics used in America are made in China. If a tariff happens, the price of everything the players love will rise. and more than we first thought.

The Consumer Technology Association took time out of its busy week running CES to publish a new report of Trump’s tariffs and what impact they think will affect the price of electronics. It’s a grim study of a worst-case scenario, but it’s also based on policy proposals floating around DC right now.

The new CTA report goes into more depth on what Trump is expected to do and how it will change the electronics market. There are two proposals floating around DC right now. The first is a blanket tariff ring of 10% percent and an additional flat tariff of 60% on all imports from China, which the CTA calls the “10%/70% Scenario.” The second is worse. The ring will be 20% on all imports and an additional 100% on anything from China. This horrible world is the “20%/120% Scenario.”

The goal is to punish China and encourage companies to move manufacturing to the US to avoid the heavy cost of the tariff. In fact, companies will pass the cost on to consumers. Manufacturing and supply chains are complex. Everything needed to make a PS5 Pro can’t be built overnight. It took decades of construction and change for companies to move their manufacturing out of China. In the meantime, Americans will pay the cost to offset the heavy tariff price.

There are early reports that companies such as Microsoft, HP, and Dell storage of electronic components and pushing manufacturing out of China in anticipation of the Trump presidency. NVIDIA and AMD, which recently announced new GPUs, are rushing to ship as many of them to the US as possible before Trump takes office on January 20. The RTX 5090 is already a $2,000 graphics card. That price can go up as much as possible 40% percentup to $2,500, if some of Trump’s proposed tariffs go ahead.

“The proposals would raise the average US tariff on imports from all countries, excluding China, from about 1% to 21%, and on imports from China from 11% to 131%, which depends on the current level and patterns of trade,” the CTA report said.

The report ran through a list of major consumer electronics items, including laptops, game consoles, headphones, and smartphones, and ran numbers on what two different pricing scenarios would do. “The proposed tariffs on these ten products alone would reduce the spending power of American consumers by $90 billion to $143 billion a year,” the report said.

Laptops and video game consoles will be hit the hardest because China is the main supplier for both and there aren’t many alternatives. “For example, in 2023, China will account for 87% of US video game console imports, 78% of US smartphone imports, 79% of US laptop and tablet imports, and two-thirds of US imports of monitors,” the report said.

During his previous administration, tech lobbyists convinced Trump to grant them an exemption from electronics tariffs. It’s hard to know if they’ll be able to pull off the same performance this time around, but the news that AMD and NVIDIA are keeping GPUs, and the fact that major tech companies are moving manufacturing overseas an ominous sign.

For the CTA, this is all a game of the US government to increase its income. One that costs consumers a lot. “At their core, these proposals are tools for the US government to extract as much tax revenue as possible from the American people. We’ve seen this movie before and we know the ending. The proposed ones tariffs will not create more jobs or manufacturing in the US In fact, the opposite could happen where our productivity declines and jobs may be lost over time if workers and businesses have less affordable access of technology,” Gary Shapiro, CEO of CTA, and Ed Bryztwa, VP of international trade at CTA, said in the report.

Trump spent a lot of taxpayer money during his presidency and increased the national debt by $8 trillion. He also cut taxes on high earners. Harsh tariffs, which would hit players hard, could be a way for his presidency to raise revenues for himself without passing tougher tax laws.