Much of the US Steel industry is already in bankruptcy or darn close to being driven into it, principally due to heavily subsidized foreign steel companies dumping their product below cost on our market and pushing prices down to artificial levels. It's not a level playing field right now, and the US manufacturers need a little help, in the form of a tariff on imported steel, to make it one.

Would this be at an unfair cost to American consumers? No, not at all. This is because US Steel companies have billion$$ in unfunded, but US government guaranteed, pension and health benefits which the US taxpayers would have to pick up the tab for in the case of bankrupcy. These costs would far outway the effect of the tariffs.