Yes, the next paragraph explains why the surprised economists were wrong. I agree with the GP though that the GGP was too quick to say

> to the surprise of absolutely no-one with even the most basic grasp of how economies function.

Yes, so turns out people with a basic grasp of how economies function can have different models of how things work. This a great paper, and important in that it shows who is paying the tariffs in the examples they looked at. What it still leaves unaddressed is the obvious prediction of increase in CPI not really showing up.