No they haven’t. Trump’s economic policy is coming from a loon who somehow has a degree from Harvard. They haven’t thought thru shit.
The entire US economy is built on the China supply chain. The amounts being handled elsewhere, like Vietnam, Mexico, etc is a pittance compared to China. While other countries can produce some goods cheaper than China, China has built a massive machine feeding the U.S. monster. It cannot be unwound in a few months. Period.
And the negotiating approach being used by Trump with China is fundamentally the wrong cultural approach, by a mile. The Chinese will just dig in even deeper.
I’ve written several posts about China elsewhere on the site, and there is only one way to deal with them. Build an entire alternative infrastructure elsewhere and then play them off against it mercilessly. But that takes a decade to build, and full government support. It ain’t happening.
The one good news is that the US doesn’t sell a lot into China and never will, so if they eventually cut them off it won’t be that painful for most US companies. For a minority it will hurt badly.