What happens like what happened in Trumps first term is that the country will absorb the cost one way or another, here albo says he'll chipin to our industries/companies therefore the amount America pays will be the same as it always has been except 10% will now be accounted for on paper as a tariff, the end cost will be much the same.
not sure what China gunna do with it's 53% tariff as thats hard to absorb.
Also don't forget America has industry unlike us so with a lot of the goods like cars, if the imported car prices rise the Americans will likely just buy an American made car instead, they have choices, here we don't make nuffin so we are just a sitting duck until our gov wakes up and changes it's policies to make us a globally competitive nation.
