True, but since tariffs are assessed on the "cost" value of the item, not the sale value, the impact on final price of finished product is diminished.
This is why the price increases we see from say, a 10% tariff is less than 10% -- often far less. The tariff is assessed on the "cost" of the product not the price, so high-margin products can recoup the tariff cost with a much smaller increase in price, or in many cases manufacturers/distributors choose to simply absorb the tariff and keep prices steady, while still making a reasonable profit, to retain market.
Forecasting is an educated guessing game, but if a manufacturer forecasts a reduction in sales that reduces earnings more than absorbing the tariff cost without a loss of sales, they'll choose the latter.
This is how tariffs result in some government revenue at the expense of the supplier rather than costing the consumer more as an effective "tax". How tariffs affect prices and markets is far more complex than the simple picture painted by the idiots in the media.