Yes China is the current rival and thus was hit hardest, but they’ve already had to retract a lot of tariffs days after introduction simply because they had no idea what impact it would cause on borrowing costs.
Yes if Trump sees an opportunity to demand fealty from anyone with power or money he will take it, and enjoy it, but he genuinely thinks that is his due anyway.
You could say they have a plan in project 2025, but that’s more about destroying the US government and retaining power. If it were a functioning democracy he’d be removed after the damage he’s done.
We have already seen South Korea and Japan announce new trade deals with China. So the US is actually pushing away its allies in the region (which doesn't sound ideal when trying to start a war).