If trade-war negotiations between Washington and Beijing falter, tariffs placed on all of America’s imports from China could affect the printing and production of Bibles.
Book publishers are warning that those tariffs will cause the price of printing the Bible to soar and potentially spark shortages, according to an article by Matt Egan writing for CNN Business.
CNN Business reports the problem is that most US publishers print the Bible in China because of the high cost and complexity involved in printing a text with roughly 800,000 words. HarperCollins Christian Publishing, a leading Bible publisher, estimates that about three-quarters of its Bible manufacturing expenses are in China.
HarperCollins Christian Publishing CEO Mark Schoenwald wrote in a letter last month to the President’s top trade official the proposed tariffs amount to “levying a ‘Bible Tax’ on consumers and religious and educational organizations.”
The company owns Thomas Nelson and Zondervan, which it said are the two largest Christian book and Bible publishers in the United States. HarperCollins said that the 25% China tariffs would “seriously and disproportionately damage our business and our customers.”
HarperCollins has requested that Bibles, testaments, prayer books and other religious books be removed from the list of products facing tariffs. News of the impact from tariffs was previously reported by the Associated Press.
“We believe the Administration was unaware of the potential negative impact these proposed tariffs would have on Bibles,” Schoenwald said at a hearing in Washington last month.
CNN Business said that if the next round of tariffs take effect, they would cover everything the United States imports from China, including Apple’s (AAPL) iPhones, Nike (NKE) sneakers, drones, televisions and even L.O.L. Surprise dolls.
Publisher could halt printing of some Bible editions
After meeting with Chinese President Xi Jinping at the G20 summit late last month, President Trump announced those tariffs are on hold as the two nations resume negotiations. That trade truce relieved markets and businesses caught in the middle of the tit-for-tat tariff battle.
However, CNN Business reported some believe the trade war will re-escalate, due in part to the deep differences between the two nations.
“We still think an across-the-board US tariff on all imports from China is more likely than not,” Goldman Sachs chief economist Jan Hatzius wrote in a note to clients on Monday. He said “this is a close call” and likely won’t occur until the fall.
If that happens, HarperCollins said it will need to either absorb the cost of the tariffs, or increase prices and reduce sales volume. This would shift an “unfair burden on Bible readers, churches, ministries and outreach organizations,” Schoenwald wrote in the June letter to Robert Lighthizer, the United States Trade Representative.
HarperCollins also said that it may need to discontinue certain Bible editions altogether.
“The proposed tariffs on these high-cost but small-margin Bibles would be too much” for the publisher or consumers “to bear,” Schoenwald said.
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SOURCE: Assist News