A transformer will convert amps for volts, so…the watts of power stays about the same (maybe 5% loss of power due to waste-heat and other inefficiencies).
The incoming 12V energy at maybe 20 amps = 240 Watts. The transformer converts that into a 240W magnetic field. Then the output half of the transformer converts that 240W magnetic field into 120V at 2 amps.
I could go into more detail, but that’s the simple version.
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