The Bank of America article is superficial. Simply because tariffs increase prices substantially to consumers does not by itself imply that inflation will be the outcome.

If consumers have to spend more of their income on tariffed goods, then by simply arithmetic, they have less money to spend on everything else. So, the overall rate of inflation must remain unchanged.

Now, if there are other factors--such as consumers deciding to take out more consumer debt to compensate for the tariffs while attempting to maintain the same level of overall consumption--then it would be the additional consumer debt that would possibly be inflationary.

But the article you linked doesn't make that connection and doesn't even suggest that issue.

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