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New tariffs could lead to higher prices

QUINCY – The president’s announcement of new tariffs on Chinese goods has Tri-State businesses warning shoppers of higher prices Friday.

Nick Lantz manages the Cell Tech on Broadway.

“iPhones are probably our most popular item we have here, he said. “My store in general, we sell a majority of the iPhones.”

He said the new tariffs could cost people looking for their next phone upgrade.

“It’s probably going to increase the price a couple hundred dollars just because they have to make up that cost of bringing them in,” he said.

Lantz said anything that increases the price is bad news for buyers.

“It’s a little scary to see if that price is going to increase on them because it’s such a popular item that you don’t want people to be affected,” he said.

The new tariffs also impact shoes, toys and other electronics and bikes.

“On the Chinese based bicycles, I think you could very reasonably come to see a ten or fifteen percent increase in the price,” Madison Davis Bike Shop owner Greg Davis said.

Davis said there’s still a lot that needs to be worked out.

“We’ll be moving into our slow season as we get later in the fall and the winter and hopefully that will give them some time to work out their problems get some of this taken care of.”

But consumers won’t have such a long grace period for all goods.

Lantz says people looking for a new iPhone could see the higher prices as early as October.

“So if you’re thinking about it, it’s best to get in now and see what kind of deal we can get you and go from there,” he said.

White House officials said they’ll meet with Chinese leaders for another round of talks in early September.

This is the second major round of tariffs this ye

The first round included a 25 percent duty on $250 billion worth of goods.

With this new round, almost all imported Chinese goods have tariffs on them.

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Blake Sammann

Blake Sammann is a reporter and weekend anchor at WGEM News.

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