Ironically one of the problems with the Chinese economy right now is a lack of domestic demand. If Trump makes it more expensive for people to buy from America, they'll buy from China. China would make up for its lack of domestic demand by selling more to other markets who now can't afford american goods. If China needs resources it used to get from America, it will pivot to buying more from countries like Brazil. They already buy oil from Venezuela which pisses off American oil companies. The things that countries buy from America, they'll start looking to get elsewhere, and the things that they used to sell to america, they'll start trying to sell somewhere else. This could potentially be good news for other countries that have resources, but lack infrastructure and employment opportunities.
All this kind of thing does is make countries and the producers within them look at someone else who is willing to sell to them at a good price and willing to buy from them at a good price. He's just making America a less trustworthy place for investment. Stability is a MAJOR factor when choosing to invest in a country. If I have assets in India, I know that shyt could probably vanish because of all the ethnic tension there. If I put my money in Sweden, I can relax because I know the swedish government is stable and won't flip at the drop of a hat and the average swedish citizen isn't a moron who can be easily duped into empowering a radical right wing government that governs off emotion rather than logic.
America is starting to turn into the kind of place where someone won't want to make any long term investments because if the majority of its population is stupid or easily manipulated, the person they put in charge could fukk up the money of the person investing in the country. E.g. electing someone who doesn't believe in climate change, thus doesn't invest in infrastructure and then the house you bought gets burned down in an out of control forest fire that the president refused to send funds to the state to help control.
The reputation of america as a place you can trust to be a stable repository of your valuables and a place to start a business in is deteriorating RAPIDLY.