LEXINGTON, Ky. (ABC36 NEWS NOW) – “Universal tariffs” could be coming America’s way if president-elect Donald Trump gets his way when he takes office. Plus, Trump has said he wants taxes on all Chinese imports to be a high as 60%. Many economists have been sounding the alarm about this policy. Trump’s tariff proposal would implement a tax between 10% to 20% on all universal imported goods. Companies outside of the U.S. would have to pay the tariff to import them. While the hope is to increase production in the Unites States there could be some problems. “First of all it makes those goods more expensive,” said Dr. Michael Clark, the director of the UK Center for Business and Economic Research. “So, consumers and businesses who might be purchasing goods outside of the united states and brought in would see the cost of those goods go up. Also, it would effect businesses that are importing maybe inputs into their manufacturing process.” Carie Burkett, owner of JCB, believes that the new tariff tax would not effect her business that much as it is cheaper to ship goods that are already in the U.S. than to ship them from another country. “It’s surprising when you see it from the other side as a business owner and a buyer how the cost is actually a little more for effective to get this stuff to me but more efficiently done too,” said Burkett. She says that while prices have been up, she’s worked to keep her prices the same instead of raising them. And as a local business owner she is proud to sell products made in the U.S. Dr. Clark says that while this could potentially increase production of goods in the United States, it could hurt our trading with other countries. “This has an impact in terms of our export business,” said Clark. “To the extent that if the U.S. imposes tariffs on other countries, it’s very likely that those other countries would retaliate and impose similar tariffs on the importation of U.S. produced goods.” According to ABC, the Peterson Institute for International Economics estimates that Trump’s tariffs would cost the typical U.S. Household about $2,600 per year. Categories: Featured, Local News, News Tags: China tariffs, donald trump, Dr. Michael Clark, economic outlook, imported goods, JCB, President-Elect Donald Trump, tariffs, trump tariff, UK Center for Business and Economic Research, Universal tariffs