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China relies on: importing raw material, applying their economic skill set (manufacturing), and then exporting finished goods.

I'm not so sure I agree with this. For instance, in the important area of rare earth materials (needed in batteries and other high tech stuff), Red China is a big player, last time I checked.

China also mines plenty of iron ore (from Wikipedia:)
Country Production
Australia 817
Brazil 397
China 375*
India 156
Russia 101
South Africa 73
Ukraine 67
United States 46
Canada 46

They have also done a better job of creating supply chains that put them at a logistical advantage compared to other cheap labor sources (Vietnam, Philippines, Malaysia)

If we consider agriculture as a form of raw material, and it is arguably the most important after water, Red China has managed to export APPLES and PEANUTS to the U.S. (we are excellent at growing both), and has pretty much taken over most production of the increasingly popular cash crop Stevia which is really a South American product (with Japan buying up pretty much all of South America's output).

I believe your statistics are correct regarding the status quo. However, if the US would find the will to mine more iron ore or grow more apples or peanuts, we would.

We can turn the rare earths deficit right around. We have plenty but the mining of it is “detrimental to the environment” so it is not done. China has these elements in concentrations. They are diffused through most of the ground in America. It is a little more difficult and disruptive to produce them ourselves but we can, in a pinch, do it. We just have to get the EPA away from it. Can trump do that? Like bears in the woods.