Yes, but it's essentially fraud. The common term is "Origin washing." You have to declare the origin of the shipment, and the exception is that it goes through "substantial transformation."

If you were to buy a bunch of components from China, have them shipped to Australia and assembled there, then shipped to the US, you would pay the tariff applied to Australia, not China. Of course, you probably are paying some sort of import tax when the components make their way into Australia too.