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Call Name: JD
Henlee, I don't think there is much evidence of protective tariffs (even if the intention is different in this case) having much success historically. I believe that was one mechanism used by FDR during The Depression, and didn't help anyone. WW II removed those tariffs, of necessity.
As for the Chinese govt, or Iran, or Venezuela, allowing the citizenry any real power to affect the international policy, it wouldn't seem likely. A few years ago a Chinese native here in the US told me that the Chinese people really like Americans ... but they are not real likely to express that publicly, for obvious reasons.
Another aspect might be the world's need for the rare earth minerals that the Chinese are willing to produce, while other countries consider the mining process too dangerous. That has not made us stop buying rare earths. We need them. So, couldn't China just raise their prices on their rare earths to make up for any shortfall on the more mundane products that they don't sell to us?
It would also be MANY products that would increase in cost for us since there are so many components of various products that are Chinese-sourced ... like chips needed for many of our electronics. When I bought my last computer (which has been a workhorse for about 6 years now), I learned that while many manufacturers advertise the Intel chip in their machines, most of the rest of the chips are Chinese-made. I purchased from a local company that "builds" their own machines from components, and they promote that all the chips in their machines are US-made.
"Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim
I don't use the PM feature, so just email me direct at the address shown above.
China is already charging the maximum price they can for their commodities. If their demand slipped due to US regulation then that price would go down rather than up. If they decided to hold their metals than prices would go up, but they would not have cash that they need.
All this is short term disruptions while the market adjusts. These can all be phased in also to not have a dramatic swing in the economy. There are solutions, the important thing to decide is to do it.