How tariffs will impact Alabamians

What does this mean for your bank account?

Cost of tariffs on Chinese goods

BIRMINGHAM, AL (WBRC) - Consumers across the country are bracing for the latest round of tariffs on goods from China.

President Trump announced on Monday that the U.S. will impose tariffs on 200 billion dollars worth of goods.

"Yes, I think we may have dodged (a bullet), from what I’m looking at. I just reviewed everything and I don’t see us on the list,” said Matt Chambers, with Curtiss Motorcycles.

The company is making electric motorcycles. A part from those machines will be made in China.

While Chambers’ company might have escaped this latest round, they might not be so lucky in the future. The President is promising more tariffs if China doesn’t change what it’s doing.

“And then we have to make a decision. What the market will bare? Do we cut our margin? Do we pass the cost along? Not there yet, because again we’re hoping that we’re going to dodge this,” said Chambers.

It’s feasible however, that consumers will see some type of increase in prices for goods that are included.

“We have to ask ourselves the basic questions, why are we imposing tariffs and why particular are we imposing tariffs on China,?” said Bob Robicheaux, a retired business professor.

Robicheaux said right now China is profiting on the US to the tune of almost 400 billion dollars.

“I really don’t think there is a desire by the administration, regardless of what you think of them, to start a battle with China. It is China is taking advantage of us,” he said.

Copyright 2018 WBRC. All rights reserved.