TL;DR: Nintendo of America president Doug Bowser discussed with Wired the impact of new tariffs on the Nintendo Switch 2, which may increase its price from $449 to $600. The tariffs affect manufacturing in Vietnam, Cambodia, and China. Nintendo is assessing the situation, having already moved some production out of China.
Right. The only difference between a tariff and a VAT, is that the VAT applies to all products indiscriminately, where as a tariff only applies to imported goods.