PETER NAVARRO: Trump's 50% steel tariff is a necessary shield for American industry
1. Trump raises steel tariffs to 50% to protect U.S. industry and national security. 2. U.S. steel capacity exceeds consumption by 19 million tons, bolstering self-sufficiency. 3. Global steel overcapacity is surging, driven by Chinese exports, destabilizing prices. 4. Tariff increase aims to combat import surges and foreign market manipulation. 5. U.S. steel sector is underperforming, with major producers facing financial losses.