The Entertainment Software Association (ESA), the gaming industry's major trade body in the US, has urged the Trump administration to "consult with the private sector" regarding incoming tariffs on foreign-imported goods.
In a statement shared with Kotaku's Ethan Gach, the ESA says that tariffs on gaming hardware and products would "impact Americans of all ages" and that they could cause "significant harm to everyday Americans", as well as to the gaming industry itself.
The ESA goes on to urge Trump and his administration to "consult with the private sector in a transparent process" to avoid causing such harm to both Americans and "one of the fastest-growing entertainment sectors in the US".

In case you're not aware, the tariffs to which the ESA is referring were imposed by President Trump this weekend, primarily targeting goods made in Mexico (although those particular tariffs have been paused for a month), China, and Canada.
Specifically, Trump will impose a 25% tariff on Mexican- and Canadian-made goods, with a 10% tariff being slapped on Chinese-made products. This is, of course, a problem for companies that import their goods from those countries.
Many gaming consoles and peripherals are made in China, and as the BBC points out in the above-linked story, economists say that import hikes for companies are usually passed on to consumers in the form of increased prices.
This means that for a console as eye-wateringly expensive as the PS5 Pro, for instance, you could expect to pay significantly more in future, which could in turn lead to fewer consoles and accessories being purchased on the whole.

It's also entirely possible that Trump's tariffs could affect the price of physical game media; as Mat Piscatella points out on Bluesky, a lot of physical production infrastructure is in Mexico, and so a 25% tariff could hike the prices of game disks.
Of course, that would also probably mean a price hike for digital games in order to ensure parity between the two media types.
It's impossible to predict exactly what's going to happen at this stage, but the ESA is spooked enough to call on Trump and his administration to discuss the matter further with the gaming sector. Whether they do or not is another matter entirely. Stay tuned for more.