China has scale, and the right value chains for certain things. But ultimately they are commodities. It's that hard to build simple factories and provide reliable electricity and cheap workers.
Indonesia, India, Malaysia, Vietnam etc. - there's a lot of people there waiting to pick up the slack.
The US does not import a lot of meaningful things from China.
China imports a lot of critical goods from the West, particularly Germany. Also - the trade balance is very lopsided.
A 'trade war' with China would be very painful for China, but the West would hardly skip a beat.
A) Consumer prices would rise a little bit. B) Some plants (smart factories) would open in the US C) Mexico would boon, and so would other areas in Asia.
In the long run, if other places pick up the slack, it would permanently damage China's competitive advantages - whereas Western nations would do just fine, save a few German tool makers.
This is false. China is not the sole or important supplier of most things.
Vietname, India etc. are becoming capable of providing labour and supply chain.
A 10% tariff would be fair.
Besides, something needs to be done to balance trade.
Right now China is cheating by claiming they are open, whey they are not.
The West should simply implement tit-for-tat policies.