Trump’s “Liberation Day” Tariffs are a Mistake
In short—like all other taxes—tariffs impart a new cost on producers. [...] But that new cost is a problem for the companies operating right at the margin.
This means more corporate consolidation and small business destruction.
more inflation!
This will have an adverse impact on prices, but it's not the same thing as inflation. Inflation is a systematic expansion of the money supply. This is an artificial cost imposition.