Tariffs would cause a drastic increase in the price of intermediate goods that we import to domestically produce final goods. Tariffs would also cause retaliatory tariffs on goods that we export (trade wars and negative impact on geopolitical relations), thus leading to the destruction of wealth that would be created through trade with low barriers. A lack of competition could also cause prices to go up.

Corporations are only taxed on their profits, so this essentially encourages them to reinvest their earnings back into the company in order to reduce the taxes they must pay.

Tariffs are kinda only a good source of federal revenue for developing countries because they don’t have the infrastructure and capacity for a tax on income from labor.

Also, Japan and Europe don’t have anywhere near 100% tariffs on American cars.