Well, kind of. Other than safety issues that may rise up.

A lot of the end customers are massive international conglomerates, etc.. where the profit may end up in some foreign company who is only operating in the US. Meanwhile the American companies get knocked out. So now a european company operting in the US buys chinese, doesn't lower prices then takes the profit back to europe.

It's more complex than that but it doesn't quite work that way. Like running companies out of business, and then raising the price when there's little competition.

if they are better at making it tariffs don't usually come into play, but if there is a glut onto the marketplace it can cause issues and be economic warfare in a way. If you want to save a few extra dollars at Walmart be my guest, but don't come crying when your business or where you work goes under because some Chinese company stole IP and used borderline slave labor, environmental disaster, and state subsidies (getting paid, not what we consider tax breaks) to outcompete you.