A ton of small businesses (think Amazon sellers) import from China et. al. This blows up their businesses. There simply is no other cost-effective source.
Direct-to-consumer overseas companies (Temu/Shein style) yes this is a big change.
EU has shown that no De Minimis on VAT is not big problem. Chinese ecommerce can pay those costs just fine if the systems are in place. And price is still competitive for customer.
Considering retail margins, even 100% tariff still probably means at least 30% cheaper product.