For example. With above 100% tariffs on China, China will start dumping its excess inventory in South America. From there they will start getting smuggled into USA. The higher the tariff, the more lucrative smuggling becomes.
But smugglers are usually criminals. So when criminals start making big bucks, crime goes up. I will bet you a $1000 that you will see Fentanyl rise up within the next year.
This is not conjecture, these patterns are as solid as any laws of nature.

Keep thinking about cascading effects. 
- All drop shipping: dead
- IoT startups that design PCBs and get them mass printed from China: dead
- A huge number of Kickstarter projects: dead

Startup artist seeking inspiration.  Champion of /bcard

Great point. I know this guy in Pakistan who started a herbal/multivitamin supplement brand around 10 years ago. He invested a considerable amount getting FDA approvals and suppliers in China and would sell only in USA. 
For ten years he's been building this brand that has grown significantly. 
I don't think he can continue anymore.

Globalization created a democratization of entrepreneurship.  Whether you were a game designer or hardware designer or something else, reduced costs means reduced risks to start something new which means more people take a shot.

Taken in that lens, tariffs are a gift to entrenched players.

Some subset will ultimately refocus on customers outside of the US.

Maybe the real American Privilege was always being the first target market. Kinda how for a long time, most mobile apps were iOS-first.