It is the same story handed out in even the most rudimentary economics classes nationwide, primarily because it is an economic fact. American steel ceded market share to foreign producers decades ago. And they lost it for reasons that tariffs won't fix. Personally, I am not inclined to protect industries that will make me pay more for products than I currently pay.
Ok fine, it's a fact that complying with regulations causes marginal increases in cost. Probably a tiny fraction. Taxes are on profit marginally increase in prices too. So regulations and taxes are inflationary. Perhaps a 5% cost factor.
I do not particularly like paying taxes or complying with regulations. Who does? But the question the American people, and NOT corporations, need to ask themselves is the inflationary effect of regulations and taxes worth the cost? Or even if they are not worth it then is offshoring in the best interest of the American people. The only weapon the American people have against off shoring are tariff and embargos.
Only idiots or disingenuous socialist tools in academia would teach economics in a political vacuum. Most "profs" are socialist BS artists and they know current economic theory put into practice is hastening socialism. Anyone with a room temperature IQ can see that.