Trump Tariff Taxes Book World Bigly
Tariffs were officially imposed on goods and products coming from China, Mexico, and Canada, threatening to disturb the world economy, international relations, and the ability to buy, sell, and produce books. Then, within 24 hours he gave a 30-day reprieve to Mexico and Canada.
Here’s what the Trump Tariff Tax could look like for the book world:
Books:
Books that are printed overseas, such as coffee-table books, illustrated books such as cookbooks, art books, children’s books or graphic novels will be taxed. Comic books, in particular, could be hit quite hard.
Printing:
Many US-based printers import raw materials and finished products from overseas. The cost of printing in the U.S. could rise.
Foreign Language Books:
The U.S. is a melting pot. Books published in foreign languages from other countries will be taxed upon their entry here.
Canadian Authors/Publishers
Their books will cost the U.S consumer more unless the Canadians lower the cost of their books.
Book-Related Toys
Many plush dolls, board games, or puzzles connected to or based on a book will be taxed bigly.
Discretionary Consumer Buys
Tariffs are a tax on consumers. Think inflation. If people have less money to spend on books, less money will in fact be spent on books.
All of this tariff talk by President Trump -- and now action -- is putting other nations on alert. Either they will negotiate with the U.S on fairer trade deals that help Americans or they will try to fight these taxes by issuing tariffs of their own, creating ugly, bruising trade wars that at a minimum will lead to higher prices, possibly hob loses, and maybe even export/import bans that hurt everyone.
I’m not an economist but when politics and businesses clash, and the book industry gets hurt by it -- not to mention consumers -- it’s easy to want to stand up and oppose this lunacy.
Though Trump won his second election to the White House with a feeling he was given a mandate on issues like immigration, DEI, inflation, and other matters, he’s making a big bet that America will win the tariff war. But there will be pain before any of that ever happens- if it does. Financial aftershocks could destabilize the world economy and we could alienate both our allies and biggest trading partners - Mexico and Canada - and risk a trade war with China, who makes practically everything that we need to function, from pharmaceutical drugs to technology equipment.
Could new Trump tax cuts offset increased costs to Americans and businesses? Possibly. A lot is not yet clear.
But what is clear is that authors, publishers, bookstores, libraries, and anyone in the book ecosystem will soon feel some pain.
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About Brian
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This
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For
the past three decades, Brian Feinblum has helped thousands of authors. He
formed his own book publicity firm in 2020. Prior to that, for 21 years as the
head of marketing for the nation’s largest book publicity firm, and as the director
of publicity at two independent presses, Brian has worked with many first-time,
self-published, authors of all genres, right along with best-selling authors
and celebrities such as: Dr. Ruth, Mark Victor Hansen, Joseph Finder, Katherine
Spurway, Neil Rackham, Harvey Mackay, Ken Blanchard, Stephen Covey, Warren
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has spoken at ASJA, BookCAMP, Independent Book Publishers Association Sarah
Lawrence College, Nonfiction Writers Association, Cape Cod Writers Association,
Willamette (Portland) Writers Association, APEX, Morgan James Publishing, and
Connecticut Authors and Publishers Association. He served as a judge for the
2024 IBPA Book Awards.
His
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and The Washington Post. His first published book was The
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and Ferris, a black lab rescue dog, and El Chapo, a pug rescue dog.
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