Trouble with tariffs is if the country providing the product is the "sole source", which in many many cases China is, the increase in government revenue is derived from that tariff increase being passed on to the customer via a higher price.

Competition is the key.

Rather that the government getting the additional revenue and waisting it again and again, how about using it to subsidize US startups that manufacture the affected products here at home, to shed all dependency on foreign goods?