The new tariffs the United States is imposing on imported goods may not affect the comic book market and publishers such asMarvel, a new report shows. Earlier this month, United States President Donald Trump announced tariffs on goods coming into the country, which sent numerous industries into a frenzy, comics among them.Yet those fearing high prices on new comics may be able to breathe a sigh of relief, according to a new report.
Milton Griepp ofICv2reported on the impact, or lack thereof, that Trump’s tariffs will have on the comics' industry. According toICv2,comic books and other printed matter originating in Asia will be exempt from the tariffs, citing the actual announcement from the White House as proof.As a good number of comics are printed in Asia, this is very good news for fans and retailers.ICv2did not state if printed matter from other countries, such as Canada, would be exempt or not.
Why Did Trump Initiate Tariffs On Imported Goods?
Trump’s Tariffs Sent Numerous Industries Scrambling, Including Comics
The tariff system proposed by Donald Trump is designed to “protect” domestic industries by levying taxes on goods imported from other countries. In addition to trying to spur production in America, tariffs can be used to raise revenue, although upon announcement of them, the stock market went into a free-fall. While there are now signs of a turnaround, especially in light of Trump stating the tariffs could be negotiated, the damage was done. 401Ks tanked and retirement plans were canceled. Panicking, some industries, such as the automotive field, began placing workers on furlough.
As U.S. Tariffs Loom Over the Comic Industry, DC Is Making Moves to Lower Prices
As many are aware, the United States has significantly increased tariffs on imported goods. However, DC is taking steps to help lower prices.
This panic over Trump’s tariffs spread to the comics industry as well. A good portion of comic books are printed overseas, particularly in Asian countries. If the tariffs were going to apply to comics and other printed matter, then fans could have seen a substantial markup on cover prices. Trump imposed a 34% tariff on goods coming out of China, as well as 25% on Korean goods and 24% on items from Japan. These could have easily raised the cover price of an average comic book by a few dollars at least.
Thankfully, There Will Be No Tariffs On Comics and Other Printed Works
The Tariffs Come at A Terrible Time for the Comics Industry
The news of potential tariffs could not have come at a worst time for the comics industry. Earlier this year, Diamond Distributors, who have held a monopoly on comic book distribution in America for over 20 years,filed for Chapter 11 Bankruptcy. Diamond is currently liquidating some of its assets, in a bid to make the company healthier. Diamond’s impending bankruptcy put the industry in panic mode, with publishers laying off staff and altering publication schedules. The idea that Trump’s tariffs would raise prices even further during a time of uncertainty painted a bleak picture for the comics industry.
Trump’s tariffs are making life miserable for industries all over the world, but the comics industry will not be one of them, for now.
Yet thankfully, any talk of an apocalypse forMarvelor the comics industry may be premature, as Trump’s tariffs will not apply to printed matter. However, as mentioned earlier, this is only for printed matter hailing from Asia, leaving the fate of Canadian books uncertain. With most books printed in Asia, this may be a moot point. Trump’s tariffs are making life miserable for industries all over the world, but the comics industry will not be one of them, for now.
