Sony will hike PS5 prices Thursday as a result of Trump's trade war

Sony is raising the price of its PlayStation 5 consoles by $50 each in the U.S. beginning Thursday, the company announced on Wednesday.

Why it matters: The move reflects companies starting to buckle under pressure from President Trump's tariffs, raising prices or signaling that increases are coming.

What they're saying: "Similar to many global businesses, we continue to navigate a challenging economic environment," Sony said in a blog post.

• "As a result, we've made the difficult decision to increase the recommended retail price for PlayStation 5 consoles in the U.S. starting on August 21."
• The recommended retail prices for PlayStation 5 accessories "remain unchanged," however.

State of play: The new prices in the U.S. range from $500 to $750.

• PlayStation 5 – $549.99
• PlayStation 5 Digital Edition – $499.99
• PlayStation 5 Pro – $749.99

Catch up quick: The price hike wasn't totally unexpected.

• Sony said in May that it was considering price hikes to cover the Trump administration's tariffs.
• In April, Sony raised the price of PS5s in the UK, Europe, Australia, and New Zealand by 10 to 15%.
• Sony rival Microsoft raised its U.S. Xbox prices in May by $80 to $100.

The U.S. and China recently extended their tariff truce for another 90 days.

• The original deal lowered U.S. tariffs on Chinese goods to 30% from 145% and restarted the flow of crucial rare earth minerals out of China.