Trump is using tariffs as a blunt-force tool. It won't work

Last week, Donald Trump revived a trade war from his first term, implementing a 25% tariff on all imported steel. In doing so, he's using tariffs as a blunt-force tool under the assumption that they'll be sufficient to jump-start the American steel industry. But that's not the case. Tariffs are important, but they're far from enough. Thanks to decades of disinvestment and terrible trade policies, the steel industry has grappled with decline and stagnation for years. It now faces grave threats as China continues to flood the global market with artificially cheap steel, manipulating prices in its favor. Meanwhile, the…