The government should find ways to strategically invest in developing major industries. The market for them is global and China has/will have a bigger internal market than the US, so without intentional development we'll get a continued industrial consolidation that is bad for the US and the world. I have robotic lawn mowers and vacuum cleaners made by Chinese companies partly because an intentional policy from China's government to grow these capabilities locally.
the way the us govt has behaved internationally i wouldnt be surprised if countries/people actively boycott made in america.. the market for us goods and services would definitely have shrunk.
The current administration is literally cutting all those strategic investments