Unlike what many think, the tariffs were NOT slapped for bringing the jobs or factories back. Far from it.
It was a pure play for refinancing the government's debt, particularly in the next few years during the current administration.
But the gamble was based on the big assumption that Chinese would not retaliate. But they DID, and they hit where it would really hurt: dumping the treasuries.
So this is officially war. And in a war, sometimes the amount of destruction early on doesn't matter. What matters is who folds first in the long run.