Exactly. People think Apple's 38% "profit" goes right into the bank. But that's gross profit margin (GPM). Apple's net profit margin, after operating expenses (employee payroll and benefits, rents, utilities, marketing, maintenance, insurance, legal, and on and on) and federal/state/local taxes, is around 20%.
Compare that 20% NPM to the tariffs and you'll see why eventually they're usually passed on to the consumer. It's a hidden tax that goes straight to the US Treasury. And the US debt, now at >$23 trillion continues to climb.
The current US tariffs are terrible economic "policy."