There's really no such thing as "dumping" in the market. The supply and demand of marketplace is transacted by the voluntary cooperation between buyers and sellers in their own self interest. Buyers freely choose the best product for the best price and will generally will not buy low quality junk because that generally is not in their best interest.
How does that process "raise prices"?
They are “dumping” if the foreign government is subsidizing the cost of production to below the cost of US producers (where it might otherwise be the same without that intervention), and then selling that material under the cost of US production of that same commodity in the US with the sole purpose to drive US production out of business?
How is the consumer benefitted when there is a loss of a competitor, thus reducing choices, and how are prices more stable when the offending government withdraws those subsidies once the US based competitor has left the market?
There are four options:
1) the US producer needs to cut prices to compete and remain profitable. This means lower the cost of production, which includes government regulation.
2) Apply tariffs to normalize those prices for the US producer to compete.
3) Subsidize the US producer
4) allow the US producer to cease operations. An example: https://www.forbes.com/sites/timworstall/2013/12/23/the-last-lead-smelter-in-the-us-closes-because-the-hippies-won/#78f0664d642b
If there are certain strategic materials that need to be produced domestically because of unreliable supply lines or trading partners (wars embargoes, etc.), how are the best interests of the United States served?
The real word is not made of pure economic theory where everything operates in a noble manner for the betterment of humanity.
I lived through the OPEC embargo of 1973 and the following fiasco and turmoil in the economy. There are domestic enemies like the democRATS and Obama who wish to damage the USA and limit our ability to wage wars to even defend ourselves.
At some point, our trading partners need to be brought to heel, that if they want unfettered access to our markets then they need to be just as open with theirs. What do you think ISO-9000 was, or the CE mark ? ISO was not a quality program or anything else, other than a way to keep US products out of the EU, Same with the CE mark. They are hidden tariffs on US businesses to comply with those “standards” and payoffs to the EU to get those certifications.
How does that process “raise prices”?
Give me a break.
That is the most absurd thing I have ever heard and it is directly contradicted by both history and practical experience.
Dumping is about the only conclusively documented economic model there is.
It is not even restricted to international trade.
Back in the days of Monopolies and Robber Barons it was SOP for huge economic players with unlimited assets to dump their products on the market at prices below the cost of manufacturing in order to drive the competition out of business to create a working monopoly and then increase the price of that product to as high as the market would bear as a sole supplier
We are seeing this play out across the board with Chinese products and it can be argued that China's entire currency manipulation strategy to keep its currency exchange rates massively undervalued is the monetary policy analog to dumping.
We also have recently seen Saudi Arabia try to kill the US domestic fracking industry with oil price manipulation . The Saudis failed in the attempt, but they were able to drive a number of fracking companies into bankruptcy and then acquire the assets at fire sale prices