At first glance, the topic of how tariffs might affect hobbyists seems like a very first-world problem. But let’s not forget that this is an industry many depend on to put those expensive groceries on the table. Regardless of your politics or opinions on tariffs, there will be concrete effects on all industries, hobbies included. How might tariffs affect the sports card industry? PSA’s recent statement on how tariffs are affecting their business can give some insights. Other hobby businesses have also shared early tariff responses. Read on for the details.

What Are Tariffs And (How) Do They Work?

In layperson’s terms, tariffs are “taxes imposed by a government on goods and services imported from other countries,” according to Oxford Economics. There’s not much argument that tariffs raise revenue for governments (that’s the point of taxes). And in this case, the tariff “tax” is ultimately paid by the consumer in the form of higher prices. Tariffs are not a new concept and are always in place across the U.S. economy. But recently, Trump has imposed steep tariffs based on what he feels are unfair trade imbalances with other nations.

One important point is that trade deficits aren’t necessarily bad. The United States is a large, wealthy nation and it makes sense that we import from Vietnam more than Vietnam could ever import from us. A closer look at tariffs shows that they can ultimately do more economic harm than good. The United States is no longer a “goods” economy–we are primarily a service economy. Tariffs that aim to shift the balance of goods exported have other economic effects that we can already measure. For example, tourism to the U.S. is down 10% from a year ago, as of the date of this post.

According to the U.S. Dept. of Commerce, “travel and tourism is the largest single services export for the United States, accounting for 22 percent of the country’s services exports and 7 percent of all exports in 2023.  The travel and tourism industry contributed $2.3 trillion to the U.S. economy in 2022 (2.97 percent of the country’s GDP), supporting 9.5 million jobs.” Tariffs might boost the export of U.S. goods, but will also harm services like tourism. I have seen no estimates to suggest that the net impact will be a gain.

Current Tariff Status

The recent tariff wars are tough to follow–Trump has levied many tariffs, rescinded them, raised them, lowered them, suspended them, and raised them again. To illustrate:

• Feb. 1: 10% tariffs on China, 25% on Canada and Mexico
• Feb. 3: 30-day pause on Canada and Mexico
• Feb. 13: a plan for “reciprocal tariffs” is announced
• Mar. 4: additional 10% on China
• Mar. 5: new 30-day extension on Canada and Mexico tariffs
• Mar. 10: Retaliatory tariffs from China take effect
• Mar. 13: Trump threatens 200% tariff on European alcohol
• Mar. 24: 25% tariff levied against any country that buys oil from Venezuela
• Mar. 26: 25% tariff levied on all auto imports is announced
• April 3: additional 34% on China, and tariffs on most nations globally
• April 4: China responds with export controls on many items we need, such as rare earth metals
• April 10: The White House clarifies that Trump’s previously-announced 125% figure for tariffs against China is actually 145%, once his previous 20% fentanyl tariffs are accounted for.

In short, it’s tough to follow. I’ll link here to a Reuter’s page dedicated specifically to current tariff headlines. But there’s no argument against the claim that the current situation is, if nothing else, confusing. Consumers and businesses are uncertain, and uncertainty is never good for the economy. At the early stages of the recent tariff announcements, the stock market and the bond market were both down. That’s almost unprecedented and in my adult lifetime has only happened twice otherwise: during the 2008 economic crash, and during COVID.

Effects of Tariffs

No one expects corporations to pick up the tab, at least not entirely, in the long term. It’s not sustainable.

Some typical exporters to the U.S. will simply seek to expand markets in other countries. And some American companies, like Nike, have stated that instead of paying steep tariffs (most of their product is made in Vietman) or moving manufacturing to the U.S., they will also simply look to expand into other markets.

Domestic industries might thrive due to less global competition, but at the same time, tariffs generally raise prices, meaning less expendable income. And when families or individuals face a budget crisis, hobby expenses are generally the first to go. Hobby businesses will be among the first sectors to feel the effects.

PSA Statement on Tariff Effects

Recently, PSA  put out a statement titled “How New Tariff Regulations are Affecting PSA.” The short of it is that as of April 2 2025, PSA is “temporarily pausing the acceptance of PSA grading submissions directly to its U.S. facilities, including through PSAcard.com, from customers located in all countries outside of the United States.” The release continues, “This is an expansion on previously announced restrictions on direct submissions coming from Canada, China, Hong Kong, and Mexico.” The earlier pause was announced in March ahead of the first tariff threat.

How Will Tariffs Affect Other Grading Companies?

Some customers still have the option of submitting cards to PSA facilities local to them. “For customers in Japan, all submissions to PSA must be submitted to our full-scale grading operation in Tokyo, which is not currently impacted,” the statement indicates. But this is a luxury that other grading companies do not have, since they do not have the global reach of PSA. It will be interesting to see if SGC or CGC follow suit with restricting business due to tariff charges.

How Tariffs Could Affect The Hobby

Beyond just grading, it’s worth reflecting on the many other aspects of the hobby that rely on import / export that could be affected by prolonged high tariffs:

• Supplies: most sleeves and toploaders are made in China. BCW for example has implemented a 34% surcharge on all products imported from China. Currently, many are on backorder until the end of June. Some supplies are made in the U.S.of A. (Pro-Mold) but even in that case they could see a burst of increased demand that causes price hikes. And “made in the U.S.A.” can still require Chinese imports of parts, textiles, etc.
• Shops: Local card shops sell these hobby supplies could be affected by any shortage.
• Modern cards: Topps and Panini make cards here, but of course sell many products to a global audience. Other countries could respond in a way that causes a protracted tariff war. If so, the results could be an over supply and falling prices for American manufacturers.

Hopefully, the tariff tiff will be short-lived. If not, it will be interesting to see how tariffs affect not just individual collectors, but folks who make their living in the hobby.