re: tariffs: Can someone clarify to me some technical...

[ProfessorGAC]

42. While Accurate, Conceptually...

...the twist is that goods are imported rather than domestically obtained, because they're typically cheaper.
The tariffs may have to be quite severe even to get to parity. At that point, there is no motivation for the domestic producer to hold the line on prices.
The lower margins needed to hold market share are no longer necessary so, as companies are wont to do, they raise prices to increase margins even as market share goes up.
The tariffs may have a desired shift toward domestic production, but doesn't positively effect cost to the consumer.
Also, since companies generally don't hold idle assets for extended periods, there may not be sufficient capacity to accommodate the new demand. Hence, overall demand rises, but supply can't meet it. Prices the go up because of the market demand. If companies invest capital to increase capacity, prices go up to create a return on that invested capital. Either way, cost to the consumer goes up.
This is why so many professional economists question whether tariffs ever actually work.