Tariffs are not just for new products (new models). As soon as the current ps5 stock of a retailer is gone, they have to order new ones and pay a tariff. Then they make it more expensive for the consumer.
lets say Walmart now sells a ps5 for $400, but in a month they have to order new ones, from China. The order is more expensive than the one last month because of the tariffs, so they pay like 40% more. Walmart will now sell the ps5 for about $550 to you.