Trumps game has just earned America a 34% tariff on all goods going to China.
Trump wants more manufacturing in the US, which might be a good idea ( it might not be), but that is not going to happen overnight,it would take years for companies to set up in the US.
In the meantime, US consumers pay far more than before for every single item from overseas, including inputs needed for existing manufacturing. Other countries will impose reciprocal tariffs, undermining the sales of any US made items - although most countries are trying to avoid this, to avoid escalation, making it worse for everyone. The rest of the world will find other markets to buy and sell where possible, avoiding the US completely.
In this scenario, I can't see any tax cuts coming anytime soon for US taxpayers. Trumps plan might be short term but if it isn't, how much retirement savings will people lose if the stock market keeps crashing?