The money gets redeployed elsewhere. The money saved on the price difference between a $12 American serving spoon and a $2 Chinese serving spoon ends up going into an excessively large home mortgage payment on a house bigger than the buyer can properly afford - even with all the money he saved on the spoon.
American banksters get the money instead of American manufacturers. And you know what careful stewards they are of extra funds that come into their hands. /s
And there’s that old “cast your bread upon the water principle”. If you are ensuring your neighbor keeps a job, then his buying power ensures another neighbor does, and another by that one, etc.,etc., until eventually it loops back to your job.
When they came for my seamstress neighbor’s job I said nothing, because I was not a seamstress.
You know the quote. Eventually it gets to your job and no one left to join your protesting voice.