Steel is particularly sensitive in rich countries. Ask yourself: Why haven't all steel plants closed in rich countries and moved to poor countries? Military.
replySure, steel is important to keep in a country for many reasons. It doesn't mean tariffs are the most effective way to meet that goal.
reply > It doesn't mean tariffs are the most effective way to meet that goal.
Seems like subsidies for local steel producers would be better, then you're just paying the difference in cost for the level of capacity you want to keep local, versus distorting all steel consumption in the country.
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