Much of the problems started with the end of WWII. We bombed the Japanese capital stock into the stone age, but then rebuilt it through various lend/lease programs. Result: The US has continued to use 1890’s technology to produce steel while others have modernized their plants resulting in lower costs. US modernization has been driven by union costs, and protective tariffs/quotas under earlier administrations have made it possible to continue to use outmoded facilities. Hopefully, this new round of tariffs won’t kill the incentive to modernize like it did in the past.
I hope that as well. We have responsibility to do what is right. This shouldn’t allow the idiots to game the day.