Nintendo’s Switch 2 may have avoided a tariff-related disaster at launch, but today is a new day full of fresh economic horrors, and that means (unfortunately for everyone) potentially new and more draconian U.S. tariffs. In letters to 14 countries sent on Tuesday, President Donald Trump threatened to drastically hike tariffs by as much as 40% by the end of the month, which, for the record, marks a several-week extension of prior tariffs that were set to take effect on July 9. Among those countries—sorry, Nintendo fans—are Japan and Vietnam, which, as you may have recognized, are both major parts of the Switch 2‘s global supply chain. So, what does that mean for Switch 2 prices? Nothing good, potentially.

First, let’s start with Vietnam. As tariffs approached this week, Vietnam struck a deal that undercuts the potential 46% tariff with a 20% one on exports. Before you go celebrating the avoidance of a catastrophe, there are some things to keep in mind. First, we don’t know the full terms of the deal struck, so until we can say for certain there isn’t some kind of targeted stipulation in there that affects the Switch 2. Secondly, while the 40% tariffs were seemingly averted for now, that could still equate to a price hike for the Switch 2.

Nintendo has said previously that it doesn’t intend to raise console prices as a result of tariffs, though that was back in the pre-launch days before June, and 10% tariffs have obviously escalated since then. The Switch 2 already retails at a cool $450 ($500 if you’re buying a bundle with Mario Kart World), which is notably a price that many complained about when the Switch 2 was announced. Even so, demand for the Switch 2 has been high, and it has since become the fastest-selling console in Nintendo history, so if big tariffs were to take effect, there’s a chance that Nintendo may pass that cost along to consumers in hopes that demand is stronger than the sting of forking over an extra $50. It’s worth noting that Nintendo is already producing about one-third of its Switch 2 consoles in Vietnam and most of those are going to the North American market, so any change to tariffs there could end up affecting anyone buying a console in the U.S.

So, it’s clear that increased console prices are on the table as a result of tariffs against Vietnam. But what about Japan? Though Japan doesn’t ship Switch 2s directly, it does manufacture some stuff there, including game cards. That means if you’re the type of person who likes to buy physical games, there’s a chance you may end up paying a little more. I will say, though there’s always the possibility that Nintendo increases prices because of tariffs, this one feels a little more unlikely. Infamously, Nintendo already raised the price of games quite a lot in this generation to an eye-watering $80, so I’m not sure how much wiggle room that leaves for a price hike. Is anyone really going to pay $100+ for a physical game card? I’m sure someone might for a game like GTA VI, but I think for most gamers, that’s a hard line.

And if you’re wondering, can’t Nintendo just ship game cards from its hub in Vietnam instead? Unfortunately, the answer to that idea is “probably not.” According to the terms of the trade deal, heavier tariffs would still apply to so-called “transshipments,” which are goods being passed through another country to avoid tariffs. It’s difficult to really know when that term applies, but it’s intended to target countries that subvert tariffs through a shipping loophole. And when I say “countries,” what I really mean is China, though that doesn’t mean Japan wouldn’t be caught in that web as well. Either way, it’s unlikely Japan would attempt to go this route because of the already-fraught nature of transshipments.

It’s obviously still too early to say if any of this will result in price hikes for anyone buying a Switch 2, but the possibility is definitely there. If you’re dead set on buying a Switch 2 but haven’t pulled the trigger because of demand or indecision, now may be the time to lock one down. Anything can happen with tariffs (and anything has), but if there’s one thing you can count on, it’s that once they start flying, your wallet starts to look a lot thinner.