[Toddsterpatriot]

If the U.S. can’t produce enough to meet the need, then prices will rise causing more US product to meet the demand. If necessary it will rise up to the tariffed price.

Agreed. Don't tell central.

Imports are equal to 16% of our GNP. So if you tariffed all imports at 25%, The worst case is that you’d see a one time inflation of about 3.4%.

3.4%, plus the increased cost of the US products.

[DannyTN]

3.4%, plus the increased cost of the US products.

I don't see the cost of US products being impacted much.

• Competition between US competitors will limit prices increases.
• New US competitors will develop if prices increase much.
• In addition, if retaliatory tariffs are put in place, which is not likely under the WTO Agreements, then the prices of goods that the US exports will fall as they did in during the trade embargo in the 1800's. This will have a small offset effect on inflation.