"The magic word is tariffs ..."
One problem with this "solution" is that most tariffs are enormously expensive (to consumers) per job saved. We'd be much better off using tax revenue to pay the affected workers to stay home. At least then, the consumers would enjoy the benefits of lower-priced goods and the (former) workers would enjoy their leisure time.
TOKYO (AP) -- Japan reportedly will introduce retaliatory steel tariffs on U.S. steel products in September. But the government's top spokesman says the duties won't harm relations between the two major trading partners.
Japanese media reports say the country plans to impose a 15 percent retaliatory tariff on about ten products in response to duties imposed by the United States on Japanese steel products under the Byrd amendment. That's an antidumping law ruled illegal by the World Trade Organization
You forget about loss of economic base. Such loss cannnot be calculated and can undo the nation. How would USA look if the protective tariffs were not in place in XIXc and American economy were like Argentina or Brasil?
No, it is better to suffer some "loss" and keep workers creating something.