A better idea than tariffs to help the steel industry

Steel, like other commodities, is prone to price cycles. In times of low steel prices, domestic steel producers historically have sought government intervention, particularly in the form of import tariffs, to reduce foreign competition and increase steel pricing. With prices back near 2017 levels, domestic steel producers once again are seeking government assistance. Based on how the Trump administration’s 25% tariff on imported steel played out, is this the best way for the U.S. to help its steel producers?