China will now face a 54% tariff on goods shipped to the US

Better worded as, "US consumers will face a 54% tariff on any goods from China."

With wholesale prices typically doubling at retail prices, multiply the retail prices of Chinese-made products by 2.2x. Inflation is gonna go absolutely crazy, domestic producers will get to raise their profits/prices, and the average American gets a massive effective purchasing power decrease / pay cut. I'll be hedging with significant gold for the next 4 years.

This will unleash a golden era of local manufacturing and industry! This is the way!