You ignore the degree of price inelasticity for the products China produces and exports to the U.S. If we were still in the TPP, the U.S. could still come out a

You ignore the degree of price inelasticity for the products China produces and exports to the U.S. If we were still in the TPP, the U.S. could still come out ahead, but once the U.S. withdrew, the remaining countries have been cutting deals with China. The question is whether those deals make up for the U.S. losses enough for China to weather the economic storm in the short term for a longer term gain. Global free trade benefited the American consumer by letting them keep more money in their pocket for other things through cheaper products. And these fake tariffs which China does not pay a dime of, are a regressive import tax that in that short term negatively impact the American consumer by taking money out of their pocket. It's not at all clear how the market will adjust. Or even if it can because Trump keeps changing his mind on rather important details. What he supposedly ultimately wants is "fair trade" as in no tariffs for anyone? I doubt that he's completely non-protectionist if it turns out some other country can simply out compete the U.S. But then what does 0% tariff/import tax actually translate into in terms of the geographic location for production? It definitely moves to the location with the cheapest net cost for labor and taxes. And that's not going to be the U.S. Which is fine, the American consumer still comes out ahead, but that is not at all compatible with the claims Trump makes about his notion of protectionism creating high paying American jobs. That is a fantasy on the face of it.