Thats not how it works.
There is so much cheap labor worldwide that even china is outsourcing production to south asia/india, the whole african continent and south america.
The truth is, that whole continents could break down for cheap labor and the general population in the few western countrys would not even notice a change in the day-to-day life.
Do you really care if you get your semiconductors from taiwan, china, africa or india?
Yes some cheap "africa phones" for 5-10€ would not be possible without china, but how does this affect the westerns iphone consuments that pay 1000€ for a smartphone every 1-2 years? Apple might not make 850€ profit per phone anymore - I know, I know a huge disaster, the loss of that much tax money.
At worse it could push the middle class, you know that part of the economy that actually benefits the wealth of the overall pululation and not just the wealth of the sub 1%. Horrible! Just Horrible if the large global brands with 100% asia production would lose money and would have to invest in national production. What a grimm looking consequence.