One of my 4 closest friends is an industrial designer. The last 20 years he has been highly involved in plastics molding in China. When they started having “issues” with China around 5 years ago they looked into Viet Nam. The Vietnamese would have been glad to have them. The catch was 20% of production had to stay local. It had to be a product that locals also wanted.
The Trump tariffs accomplished a similar goal. I think for critical infrastructure components (electrical grid components, rare earth metals, chipsets, lithium) That there should be a mandatory minimum domestic production required for national security reasons. If you don’t produce a certain percentage here, you can’t sell anything.
I’m seeing auto parts that used to be China sourced coming out of Indonesia, Vietnam, and India.
Of course that stuff used to be from the US, then went to Mexico, then China.
China has moved up the cost scale enough that they are getting competition from other Asian sources.