Nikon’s first tariff price increase didn’t include cameras. According to reports, photographers won’t be so lucky the second time

Nikon adjusted list prices on a long list of lenses at the start of the summer, compensating for higher tariff costs in the US. But, since that initial lens price jump, new trade deals have set tariffs at higher rates and settled some of the uncertainty in the industry. The question is, now that the US has reached a trade deal with Thailand, where Nikon manufactures cameras, will the cost of Nikon gear in the US increase again – and will that increase include camera bodies this time?

Last week, Thailand and the US reached an agreement to set the tariffs on US imports at 19 percent. Prior to the agreement, the rates had been temporarily paused at 10 percent, but the US threatened rates as high as 36 percent for Thailand. Nikon manufactures much of its current catalog in Thailand, a list that includes all mirrorless bodies, a significant chunk of the Z mount lens catalog, and some DSLRs and F-Mount lenses. Japan, which now faces a 15 percent tariff rate, and China are also home to some Nikon manufacturing.

Rumors are calling for another Nikon price hike

With the tariff agreement in place, rumors of another Nikon price increase coming to the US have started swirling. Nikon has not yet commented on the reports, despite sharing an official announcement one month before the first price increase.

Nikon prices will allegedly rise again on September 1 and will include cameras this time, as well as lenses, according to Nikon Rumors. The report hints that budget cameras like the Nikon Z30, Z50 II, and Z fc could increase in list price by $100, while Nikon’s full-frame cameras could increase by $150 to $300. The report also indicates that lens prices will increase as well.

While the reports of another Nikon price increase are still situated firmly in rumor territory, it seems unlikely that the company would be able to eat a 19 percent import tax increase without passing at least some of that cost along to the customer. When most tariff rates were still paused at 10 percent, Nikon estimated that the increased tariffs would cost the company around ¥10 billion, which is about $68.7 million / £51.7 million / AU$107.1 million.

Even if perhaps the rumored dates and amounts are incorrect, eating a cost increase of more than $68.7 million seems unlikely; avoiding a list price increase at an even higher 19 percent tariff rate feels nearly impossible.

Few brands have been able to avoid tariff price increases, and rates just increased

When Nikon increased prices in June, the reciprocal tariff rates were at 10 percent for both Japan and Thailand. Japan’s tariff rate is now 15 percent, and Thailand’s at 19 percent. A five percent increase could perhaps be small enough for a large company to absorb – Sigma, for example, has already announced they are not planning to adjust list prices after tariffs went from 10 to 15 percent. But Nikon hasn’t yet adjusted the list price of cameras, which now face a 19 percent increase on shipping taxes for models sent to the US.

A majority of major camera brands have already announced price increases corresponding to the increased tariffs, further evidence hinting at the impossible challenge of keeping prices the same.

Even after Fujifilm attempted to negate some of the increased tariff costs by shifting production of some models from China to Japan, Fujifilm has joined the list of major camera brands that have adjusted US prices, a list that now includes Canon, Fujifilm, Leica, Nikon, Sony, and Sigma. That list now seems so long that it’s shorter to name the major camera brands that haven’t yet raised prices: Panasonic (which hinted at price increases during an earnings call with investors) and OM System.

There is some hope in the form of two court cases that have now reached a court of appeals, arguing that the International Emergency Economic Powers Act doesn’t give the US president the authority to adjust tariffs. However, while a decision from the court of appeals could come by this fall, Reuters expects that the case could move on to the Supreme Court, a timeline that would put a ruling potentially as early as June 2026.

Nikon USA has not yet responded to Digital Camera World’s request for a comment.

While tariff-inspired changes seem unavoidable, a number of questions remain. Nikon warned customers before the first price increase; will they do so again? If a price increase is indeed coming, how much and when? Will any manufacturing shift to the slightly less expensive tariff rates in Japan?

Either way, while panic buying isn't a good idea, photographers who have already put the thought and research into what Nikon gear to add to their bag may want to consider doing so sooner rather than later.

You may also like

Browse the best Nikon cameras and the best Nikon Z lenses.