I think American are partially blinded by the crazy negative propaganda against China you see all the time in the US. They significantly underestimate where China stands and overestimate the impact American tariffs can have.
More than that, I think China would be mad not to step into the vacuum the US is creating with it's isolationist policies. For years US aid has been extremely influential around the world, doing a huge amount of good (e.g. USAID) and buying relatively cheap influence in many countries. Countries that were reliant on that aid are going to be understandably jaded by their experience with the US and looking for more reliable allies.
As long as they are cooperating with Russia at least European countries will have a hard time to accept China's advances.