A sharp hiss and a burst of compressed air mold the smooth leather, shaping it into a classic all-American cowboy boot—manufactured not in the U.S., but in a factory on China’s eastern coast. As the assembly line moves forward, the rhythmic sounds of sewing, stitching, cutting, and soldering fill the vast space, echoing against the high ceilings. “We used to sell around a million pairs of boots a year,” says Mr. Peng, a 45-year-old sales manager who prefers to withhold his first name. That was before Donald Trump. The former president’s first term ushered in a wave of tariffs, sparking…
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