China’s corporate world is used to slashing prices to oblivion, employees working “996 schedule” (that’s 9 a.m. to 9 p.m., 6 days a week), and everyone’s chasing the same shrinking slice of the pie.

Many analysts warn that U.S. tariffs on steel and aluminum, along with ongoing tariff threats, are creating uncertainty and disruption in the U.S. economy, and such unpredictability is making it ...