Microsoft announced on Thursday that it has increased the prices of several products, including its consoles and controllers. The price increases went into effect immediately.

Starting Thursday, the cost of the Xbox Series S 512 console jumped from $299.99 to $379.99. Its more expensive Xbox Series S 1TB console has increased by $100, now costing $429.99.

The price hikes come as President Donald Trump has implemented a 10% tariff on all imported goods and a 145% tax on imports from China.

While Microsoft has not directly blamed tariffs for the price hikes, most Xbox products are made in China.

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"We understand that these changes are challenging, and they were made with careful consideration given market conditions and the rising cost of development. Looking ahead, we continue to focus on offering more ways to play more games across any screen and ensuring value for Xbox players," Microsoft said.

The company said that the standard price for new high-end games will increase from $69.99 to $79.99 around the end of the year.

Last month, President Trump exempted some electronics made by American companies from the import tax on products being shipped from China. Video game consoles, however, were not listed in the exemption.

Previously, Nintendo announced it was postponing presales for its highly anticipated Switch 2 video game device because of the uncertainty surrounding tariffs. Nintendo stated that presales of the Switch 2 devices would begin April 9 at select U.S. retailers. The company mentioned that sales of the Switch 2 systems would begin June 5 and would cost $449.99.

Nintendo ended up deciding to keep the price of Switch 2 systems at $449.99 after President Trump delayed implementing tariffs on Japan, where Nintendo is based.