They said they’re looking to “move out of China,” but that almost certainly doesn’t mean the U.S. Probably India or Vietnam, maybe Turkey or Malaysia.
From the U.S.'s point of view there are two goals: increase manufacturing in the States, and reduce manufacturing in China.
Even if they don't choose the States, and even if things aren't near-shored, it is still a pretty big win for the administration, no?
As far as I understood it, it was meant to work closely with a lot of east Asias counties to counter the influence of China and to promote trade.
Now the US kinda pissed of a lot of those countries, and china stepped in to trade with them.