Oversimplified. More expensive steel, American business buys less. This stunts growth that might have otherwise occurred. Tarriffs only help the group protected and hurt everyone else. Don´t start with this AMERICAN worker crap. They´re out to protect themselves. Period.
if demand is greater than supply, i guarentee american business will not buy less. in the past ten years, cost of new home construction has sky-rocketed(due to wage increase among crafts and also MATERIAL cost. has new home sales have also sky-rocketed and continues to increase. is that little bit of tid-bit information in econ.101.
America lost its competitive advantage in steel (and most other manufacturing industries) long ago. This is econ 101.
americans lost thier competitive edge, due to the fact that american and non-american companies can make products dirt cheap. labor cost are dirt cheap, environmental laws are sub-par, labor practices would be considered illegal in this country. sure , if you wanna call that being competitive, move to those countries and you or your family members work in those conditions.
as far as american workers, where do you work and how long have you been in the workforce?
Check out this book for more info on globalization: "Fighting the Wrong Enemy." Forgot the author.