Edit: Additionally, other countries should take note and protect their interests also.
In IT, we have backup plans, we have backup locations and resources and yes it costs money to keep such options available. Global companies need backup countries and suppliers that can supply what they need should something happen to the main supplier/country. It doesn't have to be full equivalents in capacity but should be possible to scale eventually.
Having backups and alternatives reduces the likelihood and effectiveness of explicit threats by your main location.
We did. And like most things in the UN, it's NATO+clients vs the rest of the world.
https://www.hrw.org/sites/default/files/supporting_resources... http://cdn.cnn.com/cnn/.e/interactive/html5-video-media/2019...
The US encouraging/requiring less trade with China is a lot less important than the US+EU+Canada/Mexico. Since those countries all seem on board in letter writing, why not approach them on something more?
Backing out of it also means that the rest of the world is unlikely to trust the US on a similar effort anymore.
Move a small number of strategic industries back? We already do that by just requiring them to produce locally. Seems much cheaper and more effective that a subsidy.
Pressure China to respect interlectual property? I don't think that will have much impact if the IP in question is worth more that 25bn.
Pressure China on other issues (Corona, Minorities, Democracy, HK)? You'll need your allies in the EU, Nafta, the middle East etc to all agree to do the same. Has anyone asked them?
The big issue with China is people have ignored them for decades hoping they'll get better if they're left to it. They haven't. So now you need a joined up policy to actually do something. 25bn USD in "look, we semi sorts tried something for a week and it didn't work" isn't gonna cut it.