What you present is the logical conclusion.  However, the new administration is reversing the policies of the last one.  That means, and is being shown to mean, that the US is on a track to becoming import-dependent again.  That applies not only to raw materials like metal ores and hydrocarbons but to finished goods as well.  

It is an intentionally economic wreck-making policy, in my opinion, but it is also what the pro-Biden voters should have expected.  Coupling that with a historically overvalued stock market, one has to conclude that bad times are ahead.

Good luck.