Only for goods that the US almost exclusively sourcing from China. So quite a lot of them.

While things like textiles and simple plastics could probably be on-shored to the US in relatively short time, many more advanced products will cost a lot more.

But the tariffs seem much smaller than China deciding to stop selling refined rare earths and products from them to the US and US allies such as the EU. That is going to make the US bleed big time.