At some important level, a big part of his coalition of power is business interests. If they maintain influence, some of these become more likely and others become less.
I happen to think he has an easy out on tariffs for exactly the reason you float, which is that he can call it a negotiating tactic. Of course, you can see examples of businesses hedging their bets (and even my household upgraded a computer this weekend in part to be ahead of any tariffs) . So some of the damage is already locked in.
Certainly there will be less regulation although that may be done along with patronage.
I think you could maybe say something grimly similar with immigration. It may be enough for him to threaten and grandstand in a way that satisfies people's bloodlust. But it would be economic suicide (as you say) to actually go through with it in full force. Or, maybe I'm wrong, and it's a perfect example of a move that could be selectively enforced: play ball California or we're going to destroy your economy.