I suppose we could waste hundreds of billions (trillions?) of dollars by making more steel than we need. Is that what we should do? Can we store a few million tons at your house?
Rough numbers, Steel imports 30 MT, steel exports 15 MT, steel production 85 MT. Doing the math domestic demand is 100 MT per year. So 30% of steel supply comes from imports. In a perfect world I would prefer ALL was produced in the USA.