Key Takeaways
- Nintendo (NTDOY) has increased U.S. prices for its original Switch consoles and accessories by $30 to $50, effective August 3, 2025, citing new Trump administration tariffs on electronics from Asia, impacting models like the Switch OLED, standard Switch, and Switch Lite.
- Indian Prime Minister Narendra Modi affirmed India's trajectory to become the world's third-largest economy, emphasizing the need to safeguard its economic interests amidst global instability and recent U.S. tariffs.
- Conflicting reports emerged regarding a potential disarmament of Hamas and an end to the Gaza war, with Haaretz citing a U.S. envoy suggesting Hamas's agreement to disarm, while Hamas itself reiterated its commitment to "resistance and its weapons" until a fully sovereign Palestinian state is established.
- Israeli Prime Minister Benjamin Netanyahu remains committed to destroying Hamas's military and governing capabilities, stating the war will not end until this objective is achieved, contradicting any notion of a permanent ceasefire before Hamas is dismantled.
Nintendo (NTDOY) is raising the U.S. retail prices of its original Switch consoles and various accessories, a move attributed to increased import costs stemming from new tariffs imposed by President Trump on electronics from Asia. Starting August 3, 2025, the price increases will affect the Nintendo Switch OLED Model (from $350 to $400), the standard Nintendo Switch (from $300 to $340), and the Nintendo Switch Lite (from $200 to $230). Other affected products include Joy-Con controllers, the Nintendo Sound Clock Alarmo, and select Switch 2 accessories and Amiibo figures. While the recently released Switch 2 console's price remains unchanged for now, Nintendo indicated that future adjustments might be necessary. The tariffs, ranging from 15% on Japan to 30% on China and 20% on Vietnam, impact key manufacturing hubs for Nintendo's products.
Meanwhile, Indian Prime Minister Narendra Modi has asserted that India is on track to become the world's third-largest economy. Speaking at a rally, Modi underscored the importance of safeguarding India's economic interests amid an "atmosphere of global instability" and recent U.S. tariff hikes. His remarks came shortly after President Trump described India as a "dead economy" and imposed a 25% tariff on Indian imports, citing "obnoxious" trade barriers and warning of penalties for India's ties with Russia. Modi urged a nationwide commitment to "swadeshi" (locally made) products, promoting a "vocal for local" initiative.
In the Middle East, conflicting narratives have emerged regarding the ongoing conflict in Gaza. Haaretz, citing U.S. envoy Whitkopf, reported that Hamas had agreed to disarm and that Israeli Prime Minister Benjamin Netanyahu was committed to ending the war. However, Hamas swiftly contradicted these claims, reaffirming its stance that "resistance and its weapons are a national entitlement as long as the occupation persists." Hamas stated it would not abandon its weapons until its "full national rights" are restored, with the establishment of a fully sovereign Palestinian state as a foremost condition. This comes amidst international efforts, supported by 17 nations, the EU, and the Arab League, calling for Hamas to disarm and transfer Gaza's governance to the Palestinian Authority.
Israeli Prime Minister Benjamin Netanyahu has consistently maintained that the war will not conclude until Hamas's military and governing capabilities are destroyed. His office dismissed any notion of a permanent ceasefire before this objective is achieved, labeling such a proposal as a "non-starter." Netanyahu has also argued that a premature end to the war would allow Hamas to remain in power and regroup. This firm stance highlights the deep chasm between the Israeli and Hamas positions, making a comprehensive resolution challenging.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.