There's no silver bullet, IMO. Tariffs would address trade concerns, but likely won't do anything to deter outsourcing service jobs, and cause other side effects, like effectively reducing our own standard of living through inflation.
Market purists will also probably complain, as tariffs are a distortion of the free market. It's a complex, multi-pronged problem that will require a multi-pronged solution.
I think the we're undergoing the free-market solution: wait it out. As other economies grow due to the high demand, theoretically their standard of living goes up, making them less compe ive and thus, us more compe ive again. The problem I have with this rationale is that it assumes the compe ion also works in the free market, but that's largely not true. Countries like China, India, etc apply fairly big market distortions themselves to remain compe ive and perpetuate the cycle.