LIMA, Ohio (WLIO) — A local businessman is speaking out about the effects of the president's tariffs on his livelihood.
Alter Ego Comics has been a staple in the Lima community for more than two decades, offering a wide variety of pop culture merchandise. Owner Marc Bowker said the latest round of tariffs is forcing him to raise prices — a move that could hurt his small business.
Owner Marc Bowker said the latest round of tariffs is forcing him to raise prices — a move that could hurt his small business.
“Just today, I had to increase the price of our high-end collectibles by 6%,” Bowker said. “They’re made in China, and the 145% tariff President Trump has applied to them is trickling down to small businesses like mine.”
Bowker explained that he is already seeing significant increases in costs from suppliers.
“I have one supplier that is charging me a 34% tariff fee. I have another one that’s charging me 14%,” he said. “That eats into the profit margin on these products, which have slim margins to begin with. So what’s going to have to happen is the consumer is going to have to pay part of this as well — we’re going to have to adjust our pricing, taking a percentage and passing that on to the consumer.”
Bowker believes the long-term impact of the tariffs could be more damaging to small businesses than the COVID-19 pandemic.
“COVID was an illness we couldn’t control,” he said. “But these tariffs are self-inflicted and detrimental to small businesses.”
He said while some large manufacturers may be able to absorb the tariff costs, many smaller ones cannot — and that puts pressure on retailers.
“With a 145% tariff, that means the manufacturer of that product has to pay that cost before they can even receive the product,” Bowker said. “While many manufacturers are absorbing some or all of that tariff, a lot of them — especially small ones — can’t. So they’re passing that on to retailers like me.”
For now, the only items in his store affected by the tariffs are high-end collectibles. But Bowker said that could change depending on how manufacturers continue to handle the situation.
