U.S. tariffs could significantly impact automobile costs

ROCKFORD, Ill. (WIFR) -- The United States will impose a 10 percent tariff on more $200 billion worth of Chinese goods.

The tariff could increase to as much as 25 percent by the end of the year, which could soon affect the wallets of U.S. residents.

Automobile leaders believe the price of a new car could increase anywhere between $4,000 to $5,000.

Local car specialists said tariffs could also increase prices of car repairs and parts.

"It's going to cover everything from tires to engines its going to increase the cost of production," said Jason Brown, Anderson's Rock River Ford General Sales Manager. "Unfortunatley that cost will be forwarded to the consumer."

New tariffs could also impact the price of other Chinese imports from air conditioners, boats, televisions, furniture and toys.

The new round of U.S. tariffs are set to take effect on September 24.