Trump seems to think that Americans have nothing better to do with their money than subsidize expensive and non-competitive domestic industries.

It wasn't that long ago that the USSR was running their steel mills for the sake of domestic employment. They forgot the demand side linkage, and that there was no market, and that the industry would have to be subsidized out of the public coffers until the USSR went bankrupt.

Mind you, the oligarchs benefited, as no doubt would Trump's billionaire boys club caucus.