Tariff Update Starting July 24, the US Trade Representative implemented new Section 301 tariffs across 60 countries. These duties impose surcharges of 10% to 12.5% on most nonexempt imports, though specific formulas apply to goods from certain nations such as Japan, South Korea, Taiwan, and Switzerland. This also includes a new 12.5% tariff on China, which is added to existing tariffs — though previous exemptions on children's books and religious texts remain in place. Because these countries represent over 99% of total US imports, the impact is widespread, affecting virtually all major supply chains. According to media reports, book exemptions will remain in place, though the tariffs will surely impact other bookstore sales items. As of August 19, the Trump Administration is also imposing new 50% tariffs on Canadian imports. While the tariffs will not include books, they will have an impact on the bookselling and publishing industries by increasing prices for printing materials, such as paper, ink, and binding parts, as well as non-book retail items and café supplies sourced from Canada. These duties were invoked under Section 338 of the US Trade Act of 1930 and are expected to face legal challenges. We will continue to monitor the situation and keep you updated. |
