The latest round of tariffs are now in effect between The United States and China, and a lot of US companies say their products will see price increases as a result. On that list is Emporia’s Hopkins Manufacturing.
CNBC visited Emporia late last week, and part of President and CEO Brad Kraft’s interview aired on Squawk Box on Monday.
Squawk Box host Phil LeBeau displayed several Hopkins products during the segment, saying prices for Hopkins good could climb as much as 20 percent as a direct result of the current tariffs. He also quoted Kraft in saying the total impact to Hopkins alone could be around $5 million because of the higher prices.
Tariffs are part of a trade war that has been brewing for most of the year between the US and China. The latest round: the Trump administration imposed 10 percent tariffs on $200 billion worth of Chinese goods ranging from food seasonings to network routers to baseball gloves. The Chinese government retaliated with 5-10 percent increases on $60 billion worth of US goods, including meat, clothes and auto parts.
Besides the plant in Emporia, Hopkins has plants in China and Mexico.
