In fairness, we could and should also charge adjustments for goods and services produced that don’t meet some standard for labor and environmental standards so American companies can compete (for example, a border-adjusted carbon tax). Similarly, end the subsidies that allow for cheaper shipping from China than a neighboring state.
If anything, I would expect “trickle-down economics” to have reduced globalization, since it allows for cheaper American labor. Of course this doesn’t mean we should embrace trickle down policies, but that we should make sure we prevent jobs from flooding overseas as we dismantle them.
It only creates extreme inequality in both countries. In the wealthier country, managers make lots of money by outsourcing labor, causing the cost of labor in the wealthier country to plummet.
In the poorer country, it creates a class of ultra-rich businessmen who rule over the ultra-poor laborers (and those laborers must remain ultra-poor otherwise the jobs would flow back to the laborers in the wealthier country).
Not only that, but the poorer country isn't going to adhere to environmental standards of the wealthier country (absent coercion a la border adjustments), and so it basically becomes a way for businesses in the wealthier country to continue to enrich themselves by way of pollution (and otherwise mismanagement of environment).
If anything, I would expect “trickle-down economics” to have reduced globalization, since it allows for cheaper American labor. Of course this doesn’t mean we should embrace trickle down policies, but that we should make sure we prevent jobs from flooding overseas as we dismantle them.