[JonPreston]

If I own a company in the U.S. that uses steel or aluminum in a manufacturing process, a tariff on steel and aluminum is a huge incentive for me to relocate my company to another country that does NOT impose this tariff.

You've perfectly described the 30-year lure of NAFTA/GATT/WTO and incidentally that relocated American company ceases to be an American company when it moves. You get that right?

[Alberta's Child]

Right. But there are plenty of companies headquartered in the U.S. with operations all over the world.