China pays in lost sales because buying homemade products are now actually worth it. If you keep buying crappy Chinese made products eventhough they aren’t able to beat US prices then that’s on you. The tariffs safe American industry. China was dumping product at an unmatchable price so they can control the market. Luckily Trump isn’t a politician and dealt with it. If you allow American industry to die out you have bigger problems. He did the right thing.
That is the story. The truth is the tariffs are a tax on Americans
The tariffs would have to have been far higher to cause that result - because the cost of government has gotten so high in the USA that there is still little interest in onshoring manufacturing.
Trump's tariffs did provide some benefit to nations like Vietnam, Bangladesh, and the Philippines - who were able to steadily steal business from China. But the biggest benefit to those smaller exporting countries has come from China's heavy-handed COVID response - which permanently drove away a lot of Western buyers.