

China also has an established, robust, and technically advanced manufacturing sector. That honestly is the biggest thing keeping manufacturing there. Things made from raw resources could be moved easily but the lower labor costs would be offset by the decreased demand due to most of their customers being back in China.
Things are even worse for anyone making something that requires manufactured components as all those suppliers are in China so now not only are they taking a hit for reduced demand, but also the headaches of having to import their components from China just to build anything. Labor would need to be ridiculously cheap compared to China for that to start looking like a good idea.
Bold of you to assume the MAGATs (including the felon in chief) are smart enough to understand the implied threat/warning.