Will a trade war erupt? Most likely it will because countries have in the past, retaliated against tariffs. There is a chance they may not this time but I wouldn't hold my breath. Besides, the major steel/aluminum exporters are Brazil, Canada & Mexico. Chinese steel is less that 3% of our imparts. Even with the Chinese "threat" our steel production was up last year as was profits for US Steel companies. As a side note- Should other countries have slapped additional tariffs on GM productions when Obama bailed them out in 2009? It is/was government subsidies that enabled them to sell their product at a price lower than Honda or Toyota?
Products will cost more - there is just no way around that. When you eliminate cheaper alternatives prices have to rise. That's just an empirical truth.
We definitely are picking winners and losers. Why steel? Why not cars? Computers? The point is, it's not the free market (i.e. the American consumer) that determines the winner and loser.
Speak for yourself when you say that Americans will pay more because it's made in America. The average American consumer sure doesn't feel that way based on the products that are being purchased. I'll speak for myself and say I go for the best value (doesn't necessarily mean the cheapest) and if that means buying from other countries then so be it. If you want my hard earned dollars, then make a better product.
The most disappointing thing to me is that this short sighted policy can very well undo all of President Trump's economic accomplishments.
The trade war erupted 40 years ago, and we are losing.
Sir I ask, how can I have an intelligent conversation about trade when your starting position is so ridiculous - ignorant? Can't you just admit that the USA IS IN A TRADE WAR NOW? After 4 decades of deficits, and and a trade imbalance reaching almost a trillion annually, can we start there?