Not any longer.
Once upon a time, agriculture was the root of an economy, but these things change. Manufacturing became the root. But it's not any more - now technology is.
You can literally be taught how to design a car in CAD. It can be done on your computer with a mouse. But to fabricate a car takes a life time of knowledge from multitudes of disciplines.
The proof is in the pudding. China is well known for replicating and ripping off patented designs in seconds because design is trivial once you know how to fabricate something.
The only reason why China can't produce an nvidia GPU is because they don't have the knowledge to fabricate it.
Granted, I don't have the stat for the entire world, so it might be bigger. Considering the US and EU are half of global GDP, I doubt it.
1) https://2016.trade.gov/publications/ita-newsletter/1010/serv...
Let's put your statement to the test then
Can China put tariffs on iPhones, Windows operating systems, Apple computers, Intel/AMD cpus, Nvidia GPUs?
Manufacturing goods is the root of an economy. China is the root, the US is a leaf.