economic theory says that if if they raise the cost of importing above producing locally, they will produce it locally,
and charge just a bit less than the import (maybe) - so there will be no savings to business, but it will create local jobs,
source local materials, etc - which drives up demand for labor, so labor costs more. Same with materials, assuming we can get them "locally"
you've heard me say this before - the cost of producing something is disconnected from the price charged - you charge what people will pay (price elasticity) which maximizes profit.
this is the whole basis of a global economy -