In May, we reported that Canon had warned it would need to raise its prices in the U.S. Sadly, it looks like that day has arrived. Several of the company’s products have seen big increases at the retail level.
What did Canon say?
Canon published the advanced notice of price increases in a summary of questions and answers following its 2025 first quarter Analyst Meeting. The company explained that the price rises only impacted the U.S. and were due to the tariffs introduced by President Trump. However, Canon also said that it had inventory that was imported before the tariff rate increased. As a result, the company predicted that “the impact of tariffs will mainly occur from the latter half of the year.”
New prices
It’s not easy to get a full picture of the higher prices, as Canon often runs promotions and other discounts. However, these are some of the increases we have seen on Canon’s mirrorless cameras.
- Canon EOS R3 – This camera has jumped in cost from $3,999 to $5,399, an eye-watering $1,400 (35%) price hike.
- Canon EOS R1 – The flagship R1 mirrorless camera is up $500 to $6,799 (around 8% increase)
- Canon EOS R6 Mark II – The cost of the R6 Mark II has risen from $1,999 to $2,199. However, this could be due to the removal of a $200 discount offer, rather than a tariff-driven price increase.
- Canon EOS R5 Mark II – At the time of writing, the R5 Mark II is still available at its launch price of $4,299, but again a $200 savings promotion has ended.
Lens price increases
It’s not just Canon’s camera bodies that have been hit with price rises. Many of the company’s lenses will now cost you more to buy.
- Canon RF 24-105mm f/4 L IS USM – This lens now retails at $1,399, an increase of $100 (up 7.8%).
- Canon RF 70-200mm f/2.8 L IS USM – At $2,999, you are paying $200 (7.1%) more than a few weeks ago.
- Canon RF 100-400mm f/5.6-8 IS USM – This lens has gone from $649 to $699, costing $50 (7.7%) more.
- Canon RF 100-300mm f/2.8 L IS USM – Canon’s flagship zoom lens is up to $10,199, $700 (7.4%) more expensive than its previous list price.
What we think
Canon has now joined ASUS, Fujifilm, and Sigma is succumbing to the impact of the U.S. tariffs introduced by President Trump. The only good news is that, apart from the EOS R3, Canon has managed to keep the current rises under the full 10% of the tariff. However, it’s not clear whether the company is still selling off stock imported before the tariffs were imposed. Therefore, cameras such as the R6 Mark II and R5 Mark II may yet get more expensive. In addition, the tariffs are currently set to rise again in early July, which could bring more hardship to U.S. consumers.
