Trump's tariffs could result in higher prices for everyday items - WGEM.com: Quincy News, Weather, Sports, and Radio

Trump's tariffs could result in higher prices for everyday items

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Awerkamp Machine Company in Quincy buys around half a million pounds of steel and other metals each year. Awerkamp Machine Company in Quincy buys around half a million pounds of steel and other metals each year.
An employee at Awerkamp Machine Co. An employee at Awerkamp Machine Co.
Vice President Bill Awerkamp says it's going to impact the price to make certain items sold to various businesses around town. Vice President Bill Awerkamp says it's going to impact the price to make certain items sold to various businesses around town.
Campbell Soup said that "any new broad-based tariffs will result in higher prices." Campbell Soup said that "any new broad-based tariffs will result in higher prices."
The tariffs are set to take effect in 15 days. The tariffs are set to take effect in 15 days.
QUINCY, Ill. (WGEM) -

It may cost you more the next time you go to the grocery store or the next time you buy a new car. On Thursday, President Trump imposed a 25 percent tariff on steel imports and 10 percent on aluminum imports. 

Awerkamp Machine Company in Quincy buys around half a million pounds of steel and other metals each year. 

With President Trump's new tariff on steel imports, Vice President Bill Awerkamp says it's going to impact the price to make certain items sold to various businesses around town. 

"We will end up selling less steel," said Awerkamp. "We will probably sell it for a higher price. It probably won't affect us. I'm more concerned for the fact that it'll affect our customers and our general economy."

A common place you'll see prices go up due to the new tariff, the grocery store. 

In a statement to CNBC, Campbell's Soup said that "any new broad-based tariffs will result in higher prices."  It didn't say how much prices could rise by.

Quincy shopper Bill Winn says he's willing to dish out a little more cash in an effort to bring more jobs to the U.S. 

"Part of my family came from Granite City, Illinois," said Winn. "The US Steel is going to reopen there and they're going to call 500 people back to work." 

Cars are another category being looked at in light of Thursday's tariff announcement. 

Dealer Counselor Scott Davis with Little Jess Motor Company in Quincy says it's something that could affect the price of a vehicle down the road. 

"The auto industry uses a lot of steel," said Davis. "It's a concern. It's something that we have to worry about. It's something those costs are going to have to be passed down to the consumer."

The tariffs are set to take effect in 15 days. 

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