Frankly speaking no one knows.If someone is going to replace the Chinese factory, they must build a factory. Then they have to be confident enough that Trump will win again! So that his tariffs remains in force.
Then we get to the practical problems of finding the money to build factory and fill it with workers.
The US multi-national company could do that, build a factory outside of China to export to America. The unknown risk there is that maybe Trump raises tariff on those products from Vietnam or Korea or Japan too. Then we have to consider China is their biggest market in Asia, perhaps the world. You want a factory inside China for the local market.
Everything considered, US businesses could be just better off by just paying the tariff to import Chinese goods to America.
At this moment, the real huge US trade deficit with China appears to be permanent for the next few years, until they cut off all China-USA trade. That I do not think will happen.
