Trump can reduce the H1Bs visa from hundreds of thousands to 10's of thousands for sure, and that will help the local labour market in the USA for sure. He can insist that all existing H1Bs visa holders will have their visa's cancelled within 12months or so, giving time for USA companies to work around the issue.
He cannot easily mandate that jobs that were relocated to India, be bought back to the USA, that problem will take decades to fix.
The restrictions on H1B will however massively "stem" the flow of jobs to India, as often the H1B visas are the vanguard effort, used to gain knowledge of systems that companies were planning to move to India.
The middle class are the backbone of every country and economy, and when you start gutting out the Middle class by moving large number of IT jobs to low cost countries, you are actually destroying a significant pillar of your own economy in the process. Maybe the USA has finally woken up to this fact ?