Yes, it certainly could... but it will take a while even for...

Yes, it certainly could... but it will take a while even for Chinese autos to setup plants in the US and they won't be using Chinese suppliers unless they want to deal with monumental tariffs.

This report will have been read by dems and republicans: https://www.americanmanufacturing.org/wp-content/uploads/2024/02/On-a-Collision-Course-FINAL-22024.pdf Both parties know that the ICE market is going to continue to shrink and the EV market will continue to grow, but one party has unfortunately made low emissions technology an ideological/partisan debate issue.

Worth remembering that the big three US Autos fully understand that EVs will be the majority of their sales in only a small number of years, and they know that they have a small window - with tariffs and IRA incentives - to reduce local EV production costs and be completive against the Chinese EV makers. https://www.barrons.com/articles/ford-ceo-jim-farley-evs-6d16b75d

Remember also that Trump does what is good for Trump, including saying one thing with no intention of it happening, or that it will be good for America in the long run. Generally, however, the anti-China sentiment that has fomented in GOP (and to a lesser extent in the Democrats) will benefit local suppliers like Novonix "bigly". BTW has Mexico sent a cheque for the border wall yet??
https://www.aei.org/carpe-diem/trumps-washing-machine-tariffs-created-1800-us-jobs-but-at-a-yuge-cost-to-consumers-of-820000-job/