I think it'll be 'yet to be seen'.
First, I think we will end up with fewer tariffs than are being threatened right now. They are Trump swinging one of the big sticks that America has--purchasing power.
I think we will probably tariff other countries at the rate they tariff us. I think there is the chance that cost of living goes up slightly, but the influx of jobs and salaries into the economy likely outmatches that so that overall quality of life goes up. I think there may be hidden cost savings that come with good job creation--like more people getting health insurance from work instead of tax-supported Obamacare... More people having access to 401k matches...
And don't discount the income that tariffs would create for the country, shifting some of the tax burden to foreign companies.
I also think it's an odd argument from anyone pushing for basic human rights. On one hand, lots of people decry foreign sweatshops and child labor abuses. But then they also argue that our economy needs cheap imports to survive. Trump can announce a policy that would have those same products made here under our fairly protective labor laws, and their answer is "No thanks, we need the cheap labor and unfriendly exchange rates".