Is there any disadvantage to a government placing a tariff on imported goods?

There is a disadvantage, yes: other countries might not want to export their goods and this might cause a lack of those foreign goods in the country, and this might in turn cause higher cost of other things, if for example those imported goods were needed to produce something else.

The effect of inflation (if it is not anticipated) is to redistribute wealth and income from savers and those on fixed income to debtors and those on variable income. This happens because the purchasing power of a fixed money amount decreases, and because borrowers repay lenders their debt in cheaper dollars.

Explanation: