Tariffs used to support the Federal Government when the USA was an industrial giant. They protected targeted industries from foreign competition. The a consortium of Government and Global Corporations, driven by Wall Street, charted a course to deliberately deindustrialize while still maintaining the largest military force on the planet. Any military is a paper tiger without an industrial base to back it up, unless nuclear annihilation.
The deindustrialization policy had two consequences lower US wages, which erodes the economy and higher short term profits using foreign labor. This required technology transfer, which was traded for cheap labor. Its the ruling class, as represented by Wall Street, which demands instant profits. The working class would take it too, if they could, but they can't. The working class in the USA is losing the class war in which the ruling class fights relentlessly. 2008 was a missed opportunity to fix the mess they made.
All is not lost, except these policies have followed every administration since Ronnie Raygun. Biotechnology, pharmacology and health science, space exploration which includes telescopes, not just rocket ships and satellites, airplanes, alternative energy development, infrastructure building are some areas wide open for future growth. Unfortunately, most of our discretionary spending is dedicated to military spending even though all they do is lose unnecessary wars.
So unless we change our priorities, all is lost.