simple math says you are wrong History says so as well. When the government puts in a tariff the tariffs are absorbed at many points along the supply chain. Seldom does all of it show up to end user or other suppliers. For example Trump passed an across the board 25% Tarriff on all Chinese's products about the midpoint of his first term It still is in effect.
The press had many stories about how the price of everything from China was going to soar. How poor people would become destitute.
What happened? The inflation rate of basic goods dropped to nearly Zero for the next several years. they only started going up when inflation rates increased a couple of years ago. You are becoming pretty good at finding economic data with AI search engines. Now all you have to do is study it to understand what it means. May I recommend a subscription to the Economist. it does a great job of analyzing things not just telling you what is happening. I subscribe to the UK version I think it expands my WW View vs US edition. both usually have the same main articles it is the locale articles I like.
This did not move jobs to US like Trump hopped. It was a large boost to the many other Ashian economies like Vietnam Laos, MAL, and on and on. That is why prices did not rise. The below site includes a free one month subscription so you can sample it.
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