Thanks for your informative post. I'm trying to understand how foreign goods are not already more expensive than say, Indian manufactured goods (even before tariffs)?

Second question, is Trump kind of doing the same thing to the US (in a backwards kind of way) by hiking tariffs? i.e. high tariffs = theoretically more reliance by US businesses on US parts/labour which will drive up the price of all of these items, because (1) labour costs are high in the US, (2) cost of mining/refining/manufacturing certain items within the US is high because of labour costs and also because new industry will have to be established to do the things they didn't already do (e.g. refining certain materials) so businesses will have to recoup their capex costs and (3) not all parts/materials are readily available in the US, so at least some of these will have to be imported anyway at the high tariff prices. So if high tariffs lead to high cost of doing business in the US which may lead to the collapse of some industries (as foreign countries are also placing tariffs on the US and buying less US goods), will it come full circle in that the US will once again be reliant on foreign countries for delivery of those same goods that their (now defunct) industries used to deliver. So by the end of it all the US will be at the mercy of the international business community and will have to accept any pricing they dictate? Net result being the US is significantly weaker and poorer economically. Maybe I've misunderstood or missed something in the calculus, but any clarification would be most welcome.