The Unintended Consequences of Government Meddling In the Steel Industry

It is well established that even well intentioned government intervention in industry very often ends up causing more problems than it solves.  Today one of the issues facing the United States is a loss of jobs in the steel industry and so President Trump claimed this is a National Security Issue and so used his unilateral power to impose a 25% tariff on imports of steel into the United States. On its face, this seems like a good idea.  Simplistically,…