A bit outdated, but Trump is indeed aiming at the consumer to hit the tarket of bringing back production to the USA.

https://unherd.com/2025/02/why-trumps-tariffs-are-a-masterplan/

What doesn’t fit is that the elephant in the room, China, will still overtake the USA in the remaining technological areas with which the USA is maintaining its military lead.

Why is the USA isolating itself? Even if Europe plays along and stays on the side of the USA, how is that enough to maintain the global lead?

The context of Project 2025 suggests that this has been debated in depth by many think tanks. How are American billionaires going to succeed when the USA is retreating from the global trade that is creating prosperity for those who participate?