The real underlying problem is connected to the old way, which was based on the Progressive vision of a socialist style free market globalism. Globalism put the once dominant free market US, in a very weak trade position. Trade went in favor of the socialist free market of China. This change went, side by side, with the old green deal; Paris Accords, which only required the US comply, while allowing the growing Chinese economy to be exempt. The US was hog tied.
The US also became a national debt ridden, dumping grounds, for the world's goods, while allowing countries, like China, to ignore green laws, create protectionism, and get away with stealing trade secrets. It smells like the Democrat party.
Under the old socialist globalist policies, it was more cost effective for American manufacturers to leave he US and set up shop overseas, and then sell their goods back to the USA. These incentives to gut US manufacturing were part of the globalist strategy. This may have provided huge golden parachutes, for various globalists leaders, but it led to steady decline in the American middle class.
The time of the rigged big brother world economy is now over, with Trump is trying to restore free and open trade. This means we all need to play by one set of rules, instead of by dual standards and hypocrisy.
China has a choice, to either open up their markets and stop stealing, or else they can expect tariffs and legal actions, to the level the playing field. The higher import prices, due to the tariffs, will allow other smaller players to break into the Chinese export monopoly. Mexico, for example, benefitted by the first wave of tariffs. This will also allow the US to regain manufacturing at home. With Chinese production, about to go down, world raw material prices will fall.
Once the playing filed is level, the US has a lot of private money in off shore accounts, due to the high cost to repatriate this money. This is $trillions. Once the demand for US manufacturing begins, this money will come home. The new big problem will be the demand for labor will exceed the supply and wages will increase. This will be settled with a better immigration policy and more work flexibility for immigrants already here. The Democrats are trying to block everything, since their globalist golden parachutes are dependent on the old ways.