If we need them that much we will make our own.Necessity is the mother of invention.
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Permitting and enviro regs say that the process will take years - in some cases, it has taken a decade without resolution in the courts. Raw material mining is limited every day - more and more. Major rare earth deposits are locked up. Same for many other essential minerals obtained by mining.
Medicines - we do not manufacture the precursors to make the drugs, and are subject to the same permitting processes as mining.
Food. We have been a net importer of food for 40 years due to the same problems as above.
You cannot invent your way out of materials shortages.
Our industrial problems are almost entirely GOVERNMENT INFLICTED. They will not be solved by tariffs or port closures. They will only be solved by reducing the size, scope, power, and cost of government.